RE:RE:RE:RE:RE:RE:in case you missed todays OBE plug I am from an accounting background and one thing that is very verifiable is cash flow. After all , cash is cash. As Loukas points out in his note, cash flow was 3 times larger in OBE than BNE. Debt is also verifiable and debt is coming down in OBE and going up in BNE. I trust those statements to be true. OBE is somewhat stronger than BNE at this time and I think benefits less from the merger.
I agree with you whole heartedly that I doubt the target synergies will be fully achieved abd I recognize that their are redundancy packages paid up front to see costs lower in future those are the reasons I don't think a merger helps OBE.