Ann: Initial Director's Interest Notice - Lisa Paul, page-11

Agree with T_G. This announcement in one form or another was known by plenty and indeed accounts for the SP decline over more than a week. I was tempted to buy a parcel in early 1.90's but resisted since the slide looked too knowledgeable re future events.
While we might now question the efficacy of the merger/takeover, it still needs to be remembered that SKE's Board had to agree to the PRG proposal and that means negotiating not dictating and what emerged was not probably the ideal for the S/H of the newly combined entity.
IMO, the merged entity will work through the short term headaches and emerge much stronger and more strategically focussed. The sale of the marine vessels was a positive and strategic move, again in IMO.
The rewards of the merger will be recognised in 2017. Cheers.