RE:Question CB, RIO pays qualified dividends, which to my knowledge are not being attacked the same way that capital gains are. My recommendation is to just sit tight on the RIO shares, collect your dividends and IF you need extra funds then you can selectively sell some of your RIO shares.
Let's do some math. If you have 100,000 shares of WRN and if the exchange ratio is 4:1, then you will have 25,000 shares of RIO. Those shares will be kicking out about $125,000 in dividends each year. Can we say cash cow? Why would an investor want to totally divest themselves from that?
Remember, the SOLE purpose of any company is to (now or in the future) generate dividends for their shareholders. Dividends or future dividends are the only reason that stocks have any intrinsic or perceived value.