no mystery. until such time as the merger is finalised or abandoned the market will trade as a combined married entity. i would suggest that it is unwise to attempt to make a daily valuation using 3.434 as your constant without treating SLRs 11.90% holding in RED as having first been converted to cash and back working your shareholding valuations byusing future shares on issues as your constant.
Comparison of RED and SLR - half year results are in, page-26
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