The ONLY opinions that matter are the three arbitrators. They will make up their minds after ten days of hearings and several months digging through the facts presented. Neither Merger Committees have any clue at this point how things will fall. IF they are sharing an assessment at this point it is only speculative at best. Good mediators excel at applying pressure to push the sides closer, it doesn’t mean they believe what they are saying or will follow through on statements made. Arbitration starts at square one (except for anything agreed to by the parties that carries over).