The bit I like very much is this extract from the announcement:...

The bit I like very much is this extract from the announcement:

EPS accretive on a pro forma FY17 NPAT before amortisation ("NPATA") basis
 Around 10% accretion before any synergies
 Mid-high teens accretion including conservative estimate of $20m of run-rate synergies

Bottom line is that this is a good deal for DOW. Don't be surprised if they are going to have to up their offer. There is plenty of room for them to increase the price (all cash of $1.15/ share) and still make it very attractive to the combined entity.

Hang in there SPO shareholders.