The deal is a no brainer and all this "pulling the plug" nonsense is all negotiation tactics. I suspect FS strong half yearly results have given them some additional leverage and pushing for more $$. FS currently has more FUM than AEF, however AEF has more diversification of its FUM and has no debt. Cant see it being in the $300m range. more likely $400m (about 70% of AEF market cap). The merged company would be a solid player and the synergies would be mental.
Street Talk - Australian Ethical comes within inches of pinning down Future Super, page-2
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