to merge or not to merge that it the question, page-4

interesting comment about pem being 6 for 1 cbh 6-12 mths ago. i reckon management have been in discussions about a merger for sometime now, long before the shareholders were notified.

with that in mind u need to wonder about the price manipulation going on. this stock has been sold right down. cbh just as much. both appear to be below book value.

on announcing a merger you have thought the price of these companies would have stayed firm until the merge proceeded and then, based on improved outcomes we would have seen a steady price increase.

that didn't happen and both shares made slow declines after the announcement. obviously word was out that the merger might fail.

is this all good for pem & cbh? you got to wonder what all this is about. i have no doubt that the merger will happen. why do it like this?