For this discussion, review the following document regarding the Delta-Northwest merger: Form DEFM14A (SEC) - (Retrieved from Security and Exchange Commission Archives) Based on the document and what you have learned, discuss the following. 1. Can you estimate the synergy from the Delta-Northwest merger?
2. What is the benefit that accrued to Delta vs Northwest shareholders?

Asmall town wants to build some new recreational facilities. the proposed facilities include a swimming pool, recreation center, basketball court and baseball field. the town council wants to provide the facilities which will be used by the most people, but they face budget and land limitations. the town has $400,000 and 14 acres of land. the pool requires locker facilities which would be in the recreation center, so if the swimming pool is built the recreation center must also be built. also, the council has only enough flat land to build the basketball court or the baseball field. the daily usage and cost of the facilities (in $1,000) are shown below. which facilities should they build? facilityusagecost ($1,000)landswimming pool4001002recreation center5002003basketball court3001504baseball field2001005