rbs research note, page-9

These results are awesome! Very exciting! I'm puzzled at the lack of movement. We may be tied to SEA, but we're going to become a pretty big chunk of SEA, so these positive results for TXN are a pretty positive result for SEA too. Alternatively, if you aren't sure the merger will go ahead, this should be giving TXN a big boost, and also, just maybe, might make another offer possible. It's unlikely, but we really seem even more undervalued now. I hold SEA too, but I'd be perfectly happy to take a better cash offer.

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