I think that much of what you have posted would relate to the...

I think that much of what you have posted would relate to the reasons why Lev would be wanting to back this proposal. He has major shareholdings in ANO, TWD and AIR and can see that when weighing up the best way for him to retain value of his holdings across the board is for TWD to merge AIR back from whence it came. As can be seen by the initial reaction of the market TWD holders are not happy with it. Anybody holding AIR would obviously be in favour for the very reasons you have outlined even if you take a small paper loss for doing so. So I can see you have every reason to be happy with the proposal and I would too if I was an AIR holder. Initially of course in the short term even the value you might receive in TWD shares will not match the .64c mentioned in the terms of the bid. In the long term I am personally quite sure you will benefit if the bid is successful. It might even be a buying opportunity for longsighted TWD holders to add.