News: IFL UPDATE 1-Australia's IOOF to buy NAB's wealth unit for $1.1 bln, eyes cost savings, page-64

Well we have got our first analysts report come in and as expected they smashed it and slapped a massive sell on it. Bell Potter senior analyst basically states that IFL is fudging their numbers and this whole acquisition is a disaster. Once again, we can only hope that the market miraculously sees it differently and the losses are relatively contained before ex-div as it will fall again. On top of this the first adviser has left MLC and took $200 million with him. He is also encouraging all of his colleagues and peers to follow him out the door in protest that they were not consulted by anyone before this deal was announced. This was reported in AFT. Either way you want to look at it, the share price is going to get crushed on open. I would love to see a report, any report that may show something positive but I have not found it yet. If anyone out there has read or has any positive info please share it for all our sanity.