So we now have a PE or does RWL also have no positive earnings?...

So we now have a PE or does RWL also have no positive earnings?

Unanimous approval by Board; I hope there are no short term gains for them, e.g. all options become exercisable. We want them to make the best decision for all shareholders.

Yes; I agree though it looks like a good deal. I assume it provides an exit position for Lauder from his private investment vehicle. This was probably a better option for him rather than taking over EMC. Would have cost him at least $300M to do that.

I was concerned there would be a CR when I read an acquisition was to take place, but this is taken care of by the merger/ share dilution. And we get $20M in the kitty which brings me to my first point; are we now generating free cash flow with the revenues RWL bring?