Ann: Merger Presentation, page-639

Handy yes I thought about it and, as said, think it would be a huge ‘whoops’ in regards my hopes if it happened.

However I guess the only way the merger would be revised downwards for the TMT side would be if AVL prices suddenly went up and it turns out it doesn’t need TMT as much as most here assume.
Is that a possibility?
I don’t know.

But I think it’s unlikely that a new proposal would revise the TMT valuation lower

Firstly 32.4c looks like a rational midline on TMT market cap since the company’s inception;



Secondly; Returning to dbd’s theory on RCF : “they'll do everything to ensure they end up with a healthy profit from the whole deal.”
I’ll continue to take solace in the fact I agree, and that therefore RCF wanted to best protect its 46m shares here in approving the price ratio.
And that it was with a view to setting the stage for a healthy profit that the AVL price was sold down to levels at which RCF was happy to take a SOA at 12 for 1

Cheers