Q Why do think the Vickers Ballas shareholders rejected the merger Was it just a question of valuation
A I don't think you will ever know the true reason why some shareholders voted against. On the surface they said it was a question of valuation. But I think valuation is very, very subjective. They kept on saying we needed an independent financial adviser. But none of us own shares in each other, there were no related party transactions. So I think the issue of having an independent financial adviser was a red herring.
Q With hindsight would you still stick to the same valuation
A Yes, We would stick to the same valuation....
