'aas/ngt - the ratio is 1-to-1.176, so at .30ngt the spread should be .05, at .35ngt the spread goes to .06, a/k/a .41aas ... this is assuming there come no hangups with the merger, i can't imagine any but you never know ... f.d. market cap for the two at the moment, with aas at .38 times 42.6m = cdn16.2m ... ngt at .34 times 24.2m = cdn8.2m .... hair under usd16m for the whole deal, if you don't deduct cash coming in on f.d.'
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