MUA has been generating record monthly revenue while at the same...

MUA has been generating record monthly revenue while at the same time Lifull is recording falling revenue. It's certainly in Lifull's interests that the merger go ahead. The Japanese shareholders have already approved it at there end.

Lifull is offering 80c cash per share for any shareholding up to 20,000 shares plus up to 0.084336 Lifull shares per MUA share. So what's presently happening is that larger shareholders are selling on market and smaller shareholders are acquiring 20,000 share parcels. If this trend continues Lifull will have to pay 80c a share to an army of small shareholders. In effect Lifull will be nearly purchasing the entire company for 80c a share. I'm certain this was not their original intention. I think Lifull HAS to adjusted the share ratio to make it more appealing for larger MUA share holders not to sell. Otherwise Lifull may as well put in an 80c takeover offer.