He wouldn't of reduced the A/S if that was his plan - would have left it the same like 99% of companies do.
Today sucked bc people overreacted but with Yoram in charge now and the reduction of the A/S I am very confident they have a great plan for the merger.
As Walker stated, he would've just left the A/S alone if that were the intention. Also, the effective date of the RS would be announced at a future time since it was left undated.