SECTION 672

One or more merger valuers appointed by the president of the competent court shall be responsible for preparing a written report on the terms of the merger. They may obtain all the relevant documents from each company and carry out all necessary verifications. They shall be subject, with respect to the participating companies, to the incompatibilities provided for in Article 698 of this Uniform Act. The merger valuers shall ascertain that the relative values given to the shares of the companies participating in the transaction are fair and reasonable and that the exchange ratio is equitable. The report(s) of the merger valuers shall be placed at the disposal of shareholders. They shall mention: 1°) the method(s) of determination of the proposed exchange ratio; 2°) whether this or these method(s) are adequate in the case in point and the values to which each of these methods leads; an opinion shall be expressed on the relative importance given this or these method(s) in the determination of the value adopted; 3°) specific evaluation difficulties, if any.