mljet: I understand how this works. BUT, I am of the opinion...

mljet: I understand how this works. BUT, I am of the opinion (perhaps wrongly!!) that such a procedure could only work if one of the two companies allows their shareholders to be massively short-changed in the process. History would be on the side of VPE shareholders being "short-changed" once again...?
I would not think that Sir Eddie would accept a low bid scrip issue offer - so ITC holders should be fairly safe.
All JIMHO, of course.
wasa