RE:RE:RE:RE:Re: Run ... @ settoretire - A merger between NXE and FCU on a one to one share basis is not reasonable because NXE has a greater NAV but that doesn't mean that some other share ratio cann't be negotiated.
It's possible though that FCU is currently reluctant to merge because it's trading at .72x P/NAVPS compared to NXE's 1x P/NAVPS. That's a 28% discount and FCU may believe that the discount will narrow as its permitting progresses and is approved.
It's actually in NXE's best interests right now to make a deal before PLS is permitted and their relative NAVPS's narrow. Assuming of course that PLS is approved and as a result its risk profile is reduced.