what is it worth then?, page-45

In my opinion the merger terms are simply a function of relative prices at the time of merger. The future benefit of the 2 sides is therefore equally a function of those price at time of merger. Therefore it is crucial to maximise the terms of merger for the DTE side if they are to benefit as we say they should when the future success of the merged entity is realised as we think it will. Of course I could simply be talking the proverbial. peterinib