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$FPI said each $AFCO share and operating partnership unit will be converted into right to receive 0.7417 shares or units of newly issued $FPI stock or units. On a pro-forma fully diluted basis, after merger, former $FPI equity holders will hold about 65% of combined company equity and former $AFCO equity holders will hold about 35%.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.