Hi Propergeez,
No it was via acceptance of the offer, effectively a takeover ... in my experience there is little practical difference between a hostile 'takeover' and a 'merger' with the support of both boards, except in the terminology used to present it. Mergers tend to be a purely share offer no cash. LNC will need to make an offer that is attractive enough for SXP holders to accept.
Legally it may be a bit different if it is done under a 'scheme of arrangement' rather than a takeover but still not much different from a shareholder point of view.
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