Of course at current it s economical make sense for both...

Of course at current it s economical make sense for both companies to merge with each bring in a unique advantage to the deal. However it need to be done fairly for shareholder of both companies and the fairest way to do that is base on valuations of assets + economical opportunities (near, medium and long term). The synergy is there so whatever the deal it need to make shareholders on both side feel win-win situation. At the existing situation I think the minimum conversion ratio 1-1 will be acceptable to both side (at this conversion ratio PLA shareholder already locked in big lost however they can trade in that for a longer term with the view of recovering from a better merged entity later)