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Ram, I'm asking myself the same question. I'm waiting for something to be released that will shed some light on this.

In theory the value of our shares will not change as its a merger of equals. The price per unit will increase as we will finally hit the dollar mark....

There may be some value added from the NCM assets as some are saying their value is more than the script being offered. NCM tend to belive there will be share price appreciation, why else place your assets in the merged entity instead of selling them for a higher price.

We are yet to hear too much about sharing of infrastructure etc and synergies that will be acheived. Maybee this info is being held closely to avoid the market from catching on as to who else the merged entity wishes to acquire. Are there any private operations not listed the merged entity may have their eye on? Owners of such private operations may be keen to cash out and retire instead of investing more money in growning their business.

I would imagine upper management may be paid more, but some levels of management may become redundant or shifted elsewhere. The calibre of management should add a premium to the price and attract greater interest.

The merged entity will be getting quite big and with the NCM holding its unlikley to attract any take over premium, unless of course NCM has someone they would be prepared to sell to. Who knows, maybe Klien has a buyer who lined up in China for a large gold producer...

I would also imagine that the new entity would attract more short selling, but will rocket if interest in gold shares finally wins favour. The merged entity should be able to attract more investment interest from big business and should be able to borrow with much less trouble.