Merger of equals makes much more sense, some soft evidence in the wording of the trading halts, with ROC's being much more uncertain, it looks like HZN management approached ROC with the idea.
The outcome of the negotiations should be interesting though, with ROC being capped at 312 and HZN being capped at 481 it's pretty obvious who the larger company is.
Just going off that the new company might be a 40:60 mix based purely off of market price at closing.
If it's true that HZN was the one keener on the merger we might actually see a 50:50 merger. I'd be pretty happy with the 50:50 merger but not just basing it off of closing market cap, obviously biased because I hold ROC and not HZN.
This is all just wild speculation.
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