Yes I would agree that is disappointing, especially as management have basically decided for us (assuming that the decisiom is based on figures they have had eyes on for 16 Months but we can't see) that merging is the best option.
But I won't agree AVL's is 'warts and all'..
Maybe a filter and some touch up work to paint over a few warts.
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- Ann: Merger Presentation
Ann: Merger Presentation, page-470
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