At 12c (VCN) = 6.85 x 1.7c (URL)
At 11c (VCN) = 6.85 x 1.6c (URL)
If VCN drop to 10c, then URL will be 1.5c.
This deal is the loss for URL as URL sp may be drop more in the near future to match with VCN (10/11c). URL management doesn't seem doing much good for share holders. All cu companies are up but not URL.
url: universal and vulcan to merge , page-23
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