Ann: Merger Presentation, page-322

Since RCF first wandered into this space it's abundantly clear that there's a play going on here that no one in retail land has been fully able to get a handle despite a bottomless pit of speculation. My personal opinion is that RCF and others are privy to bigger macro machinations (read geo-political etc.) than the man in the street. Whatever the play is it's clear that retail are just underinformed and underrepresented bit players in much larger professional end game.