Yes I definitely agree Estseon.I sympathise for the TXN holders...

Yes I definitely agree Estseon.

I sympathise for the TXN holders who have been holding out for something better. It's a disappointing outcome, I absolutely agree. 'Gutted' seems like a very accurate description.

I have to be honest here, I hold over 10x the amount of SEA than I do TXN, so I am personally very excited with this news (as I believe SEA is getting the best value..... like the rest of us), but I am obviously not happy about TXN holders feeling gutted.

On the bright side for TXN holders, I feel SEA should be re-rated significantly once it opens trading, provided the market understands the value enhancing nature of this deal, and if it gets re-rated then it makes the 1 (SEA) for 2 (TXN) deal a bit sweeter for TXN holders. We'll see.

I suppose Talon believes that it has enough funding to carry on with proceedings(until it publicly lists), which at that stage it can possibly raise additional funding through an IPO listing (however that would dilute Talon holders, so I'm a bit stumped). Or maybe Talon is banking on the divestiture of the Olmos? I really don't know.

I agree alot of details have been left out, however they are holding a video webcast tomorrow, so we'll got more info then. It's safe to say that SEA will be funding 100% of the EFS activity, however if TXN ops to break the agreement, it'll have to re-imburse that expenditure.

Both SEA's and TXN's share prices are influenced by the other, in accordance to the 1:2 share distribution. Obviously the market will risk the deal in certain ways, so the prices probably won't be directly related on that scale, but we'll see soon enough.