I don't recall it that way Sabre. I recall Goblin specifically mentioning the probable negative effects of a merger on the SP, based on his historical observations of other stocks in similiar situations.
MKT The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint
Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%