nice deal - for mqg, page-13

I just woke up to the see this joke of an announcement. Rather than privatisation, asset sales or a take over we have macquarie once again shuffling paper. This time handsomely diluting map shareholders to give an expensive boost to the bottom line through a cut in fees. This internalisation of management helps to slightly reduce maps heavy gearing issues at a major cost of dilution. No real debt issues have been resolved and you guys have been taken for a ride.