Ann: Merger Presentation, page-210

The last item is worth highlighting : "....such as joint venture of the project or partial sale."

Both of these options suggest to me that TMT would have retained some control of the project and the subsequent decision making. That's a far cry from what is being proposed in the current takeover/merger. TMT will have no real power in the proposed corporate structure of the merged entity. I simply can't get my head around how the TMT management and board have decided to support this crazy plan. Its like the Turkeys voting for Christmas.



All IMHO, DYOR