RE:Sum of the Parts...
MM,
I am actually a bit worried as this is the first acquisition/merger by EDV (and there has been a LOT over the years) that the smaller component does not have retail investors on the bullboard up in arms yelling that the deal sucks, they are being ripped off, ratio should be higher, etc. This included myself when EDV took over Etruscan (post credit crisis firesale) as their first gold holding.
hope it says more about the savvy folks on this BB than the deal negotiated by EDV!!! :)
still, i figure EDV is off at least $3-5 compared to if this deal had not taken place but that seems to be how it goes...not sure why such a penalty in the short term....assuming the deal makes sense.
The last deal, for semafo, had semafo trading at a slight discount to EDV throughout the confirmation process (dead period imo) - my guess was because of the slight chance it would not close (by the corps and also by the regulatory bodies).
tC