The biggest point of note for me is that almost all of the...

The biggest point of note for me is that almost all of the metrics used in the independent report indicate a poor deal including pre and post SP valuation yet the MD still supports the deal with a glowing pride.  Prior to the proposal and post offload of Sconi the company line was the continued focus on Urqhuart and bringing that to development but conveniently this is being downplayed now as not a company maker.  Meilor has $20m debt and MLM $6m cash and another $4m in available drawdowns and this is the only synergy which I see and it's not a positive one from an MLM shareholder perspective and amounts to a reverse bailout at a significant premium.