Originally Posted by
Pineapple Guy
Carl, you keep ignoring the fact that NWA shares are trading as 1.25 new, joint DAL/NWA shares, and have nothing to do with internal NWA value.
The math is easy to do here Pineapple. When you do it, you will find that NWA and DAL had very similar market caps
BEFORE the merger was announced. On some days, NWA's market cap exceeded that of DAL's
BEFORE the merger announcement. And these comparable market caps exist despite NWA being 2/3 the size of DAL, and NWA having an under funded pension liability on the balance sheet that DAL is not burdened with. This was also the case
BEFORE the merger was announced.
So tell me Pineapple, does
THAT have anything to do with NWA's internal value? Or did every stock investor know the merger was going to happen before it did?
Note the emphasis on the word BEFORE...
Carl