You felt the need to post this twice now in the same thread. Perhaps I will find it repeated again further down.
TNT could have shown clear profitability for the term by only using shares to acquire quality companies. They chose instead to also use cash. Definitely prefer a tiny loss than dilution of shares and I expect most holders would agree. You are splitting hairs and only other sore losers would care.
Buy recommendation - shaw and partners, page-13
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