I am disappointed that ALU allowed itself to be taken over at such a meager price.  However, NOK is getting a great deal and I believe that it positions NOK very well, it opens the door to the big Telco's stateside, and also opens China up, a big deal in my opinion.  The cost synergies at E900M, seem low,  I tend to think they are low balling these figures such that they can beat estimates down the road.  There are also savings on debt interest payments, I am sure NOK will get much better interest rates when they restructure ALU's debt which is likely at much higher interest rates.  Given that this is an all stock deal at a low price, it prevents much dilution in the near term, all in all I think NOK did quite well.  This deal should allow NOK to position itself quite strongly for a full and successful comeback after the handset debacle of a few years ago.  I feel that with this deal NOK can move into the $11 to $12 area over the next couple of years, I am holding on to the shares through the deal completion and beyond.