Anglo Really WantsWhat Anglo really wants is just MWS. The RBC analyzes this transaction thoroughly.
Anglo buys MWS for its NAV which will pay off all debt and leaves enough cash to capitilize EZ.
With this the sp will appreciate considerably since LT debt is disolved. The NAV of EZ would then be $1.24
Another scenario is that Anglo makes an offer to the minorities and takes over both. The NAV by RBC for both is $1.06/share.