I think the market is starting to doubt whether they can get 90%...

I think the market is starting to doubt whether they can get 90% by the 29th, hence the sp weakness.

In the last 3 business days, they went from 26% to 31%. With 13 business days till the 29th, if they continue at the present rate they'll only have around 54% acceptances, well short of 90%.

Most agree the merger is good for both companies. I hold GMM & haven't accepted yet because I don't want my shares to be in limbo for who knows how long. They could keep extending the deadline. I'm also waiting for the SDV dfs which could come out any day. I believe the dfs will get this over the line as it only benefits GXY holders, GMM holders will have to accept the merger to get any benefit out of SDV.

When the directors announced the merger, which both companies want, I'm sure they would have known a favourable SDV dfs would be required to get the deal done. Timing of the merger would IMHO be based around the release date of the dfs.

As we approach the 29th, I believe both companies will continue to drop, the more they drop, the harder it'll be to get the deal done. IMHO management will have to release the dfs (assuming it's ready), or extend the deadline till the dfs is released.