If COG share price had a decent track record I'd agree with you but it doesn't.
OK CGR share price has gone side ways for 2 years but we've been getting a 4-5% dividend, COG shareholders haven't.
Certainty you'd be crazy to take part in the entitlement.
So unless they can unload all the entitlements to an institution who wants to take a stake where does that leave the merger?
Ann: Consolidated Operations Group and CML Group-Merger of Equals, page-67
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