Letter to Editor Kiena offer too low

Regarding the amalgamation of Kiena Gold Mines with Placer Dome Inc., it has to be the largest steal of the century. Mr Hick, Placer’s secretary, states the share exchange represents a 15% premium to the minority shareholders above the average price during the the last 20 days. Is this the way Placer Dome evaluates a stock?

I feel a fair exchange should be 1.3 shares of Placer Dome for each share of Kiena. Once again, the minority shareholders have been taken advantage of. Edward G. Ferris Toronto, Ontario