TPM has 1.2B debt. At time of merger it can have up to 2B debt....

TPM has 1.2B debt. At time of merger it can have up to 2B debt.

There is $800M in the kitty for special dividend.

This is worth $0.90 to $1 a share. At 927M shares outstanding.

Say they capitalised Singapore with another $400M.

They will pay out a 50 cent fully cranked dividend prior to merge.

This does not allow for any cashflow generated up to the date of merge co.

Grab the pick forks and burn that witch!!!