RcR , the MIN bid was worth around $526m. If completed as an entire scrip for scrip it would have made up around 13% of total equity of the enlarged group. But did not happen in the end and they also had a cash component (if chosen). One of the reasons I think any MIN deal will be scrip for scrip (normal or reverse t/o)
is that they can keep the cash and then use it to get rid of the debt holders.
Ann: Trading Halt, page-158
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