Whilst I agree that a merger makes sense.....this does not look like a particularly attractive deal for NME shareholders.....perhaps MCT should table another offer and explain a bit more clearly how they've arrived at the offer price. The liabilities in NME are unsecured - largely payables. If these are going to be paid in full - from the accounts it looks like these are predominantly payable to directors...then that should be made clear in the calculation. On the face of it 37.5% for a 49% tenement does not look attractive - if it's broken down more then shareholders may be willing to accept another offer - but I personally feel that 37.5% is too low!!
This is not advice
DYODD!!
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