There has been a very heavy sell down of MLT over the past 3-4...

There has been a very heavy sell down of MLT over the past 3-4 weeks in the lead up to this announcement, in fact, it is currently at a discount of about 8.4% to the adjusted NTA. While CHO is currently at much less of a discount. (about 4%)

Interesting how the announcement states,

"...should reduce the extent to which the shares in the combined entity trade at a discount to net asset backing, especially for Choiseul shareholders."

I think that anything they do to reduce the discount has got to be good.