On a serious note, recall that the latest exchange ratio (.8) had to be submitted to the SEC as part of a new set of proxy materials, prior to distribution to shareholders. Presumably, this filing has been made to the SEC or will soon be made.
Once the filing is made, I don't believe there can be a new exchange ratio without, once again, submitting the changes to the SEC. My point, therefore, is that if there were to be a change in exchange ratio (which I doubt), it has to happen very soon. Once the materials are in the hands of the SEC, and certainly in the hands of shareholders, a change in exchange ratio just cannot happen without starting the process all over again.
Gary Korn |
