Speculation mounts re Sirius' Independence, page-9

As an IGO holder I hope this is wrong. SIR is pretty fully priced at current levels, and the only way for IGO to consider this is with a scrip swap ie 1 IGO for 3 SIR sounds about right to me as an IGO holder. Hopefully the Sirius shareholders could see the merit in such an offer, owning a share in a proven, dividend paying, debt free company for shares in a fairly overpriced company with a bit of nickel or something like that in the middle of nowhere. come to think of it 1 for 4 sounds a better deal with a nice even roundness to it. Then eventually they will have to mop up the last at 1 for 5, but that is being generous.