Why? Can someone explain?, page-9

Your thinking is along the right lines, but instead of share price you would be better off adding the market caps (or at least adding the percentage of MEP market cap that is attributed to the JV).
Share price is market cap divided by total shares the company has, so comparing share prices is like comparing apples and oranges unless the companies had the exact same number of shares issued. Much safer to compare market caps. We will be adding shares to our total issued shares too with the merger, so dividing the new market cap by the new total shares may not result in any difference to our share price