Ann: Skilled Group to be acquired by Programmed, page-49

Deja,

Be careful with the maths with this situation.

For starters, PRG has in the interim gone ex-dividend to the tune of 11.5c and then there is also the matter of the merger ratio which means that each 1c fall in PRG equates to just a 0.5c fall in SKE's price, of you want to talk in like-for-like terms.

but yes, the discount of SKE's price compared to see-through merger valuation has indeed closed ... to about 3% currently, from about 6% just after the agreed merger terms were announced.