"contingent upon the share prices of the two companies at the time the deal closes assuming shareholders approve in January" That's how I understand it, too. 100 shares of MPX = 16.73 shares of IAN In today prices 1215pm EST (USD) MPX = .705 IAN = 4.60 Market value of 100 shares if today was closing: MPX $.705 x 100 = $70.50 Market Value IAN $4.60 x 16.73 = $76.96 Market Value MPX dip buying makes sense to me too. Arbitrage play. PLUS MPX Intl. shares...geez, mpx looks attractive at these levels.