I think the action post announcement of legal action with both companies taking a dive together shows that the market basically rate MIS as being worth what MMX will pay for it. If MIS was worth $5.00 why did it crash below $4 in unison with MMX. This says to me that the value of MIS is below $4 without MMX. The relative price action really seems to be saying though that they think a 1:1, or even a 1.08:1, rather than a 1:1.08 is the go for the merger.
Lets hope MMX lift the offer to 1:1 and blow away CHM in quick time. Once the CHM injunction is denied both MIS and MMX will quickly jump to $5 - and if the merger is successful then the combined company will fly to around $7-8.
MIS
midwest corporation limited
