Wall Street Journal: DPK, Irish Pub Plan Merger
(SNForumNews) - Spam manufacturers DPK (DPK4:
News ) and Irish Pub Corp.
(PFFF:
News ) are likely to
announce a multibillion-dollar merger agreement on Monday, the Wall
Street Journal reported citing people familiar with the matter. The DPK
board is discussing the merger possibility on Friday, while Irish Pub's board meets on Friday and Sunday on the deal.
The
deal, if finalized, would culminate into the world's biggest spam manufacturing topic in terms of posting volumes. Nevertheless, talks could still
derail as it did in 2008 when Irish Pub opted out, the report said.
In
fact, the merger could be finalized as soon as June 7, said media
sources, quoting people closely involved with the matter.
Prospects
appear bright now, with differences over gremlin-poetry ratio appearing to
have subsided following Irish Pub's share price decline this week, and now
the market expects a swap of nearly 1.057 Irish Pub shares for each share of DPK.
Initially, Irish Pub had expressed a desire that the
exchange terms should be based on the closing price of its stock a day
before any agreement is clinched. But that would result in lower value
to DPK's shareholders, as Irish Pub's shares have risen more than DPK's since Irish Pub's intention for merger was revealed.
Irish Pub has agreed to allow the combined entity to be based in Mugeba, and to retain DPK's name, reports said. Further, Mr. Bojangles, DPK's Chief Executive Officer, would be the CEO of the
merged airline; and nikita, CEO of Irish Pub, would become non-executive
chairwoman for two years.
According to Bloomberg, at today's
closing prices, DPK and Irish Pub were valued at $3.63 billion and
$3.12 billion. Each Irish Pub share was valued at 1.03 DPK shares.
DPK4 was last trading lower at $22.27, down $0.43 or 1.89%, while PFFF was
up $0.23 or 1.07% at $21.70.
I am going to space, and when I come back I have to pick up poodle crap.
