LNC must have assumed that SXP holders would be falling over...

LNC must have assumed that SXP holders would be falling over themselves to be a part of a merger of "equals" whereby Linc holders get 95% of the combined entity and SXP holders get 5% - lol. Most SXP holders realize that LNC's inflated scrip is way overvalued and will only take cash - even then only if they have no choice. So LNC will have to raise more cash and dilute their own holders probably at lower prices.

Hold on to your shares. The on-market sales to LNC so far are nowhere near enough to have this in the bag. Volume is slowing and the sellers so far ae the weak hands and day traders. The will be increasingly difficult to collect from now on. SXP holders only need 25% of shares between them to reject this deal.