merger

Look at the SEL 2006 annual report page 23 about half way down under the heading 4 September 2006, first paragraph....."The merger proposal has the unanimous support of the board and the board intends to recommend the offer to shareholders in the absence of a superior offer"

I know there is some confusion about MFS shareprice reaching $4.25, and some people think that if it doesn't reach that level the board won't put the offer to shareholders, but this view is incorrect.

Be very clear on this point. even though they are not obliged to do so, they have indicated in the report, that they will!