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It is Colonial's position that the terms of the acquisition agreement are not inconsistent with the public interest. It maintains that the "price" is fair and reasonable to Colonial's stockholders because for the first time they would participate in the earning of a company which has a long record of profitable operations and which in all probability will continue divided payments. Colonial contends that the "price" is fair and reasonable to the stockholders of Easter because there will be no undue dilution of their holdings; Eastern will be acquiring a major route extension to new markets enabling it to continue a more economical operation and Easter will be receiving in consideration of the stock issued to Colonial, assets valued at approximately ten million dollars. Finally, Colonial maintains that if protective labor provisions are appended to the approval of the agreement such provisions should be similar to those provided in the Slick-Flying Tiger Merger Case. 4/

National takes the position that the agreement as submitted is adverse to the public interest. In support thereof it contends that the prior finding by the board in the Eastern-Colonial Acquisition of Assets Case, supra, that Eastern had acquired 

4/ Slick-Flying Tiger Merger Case, Docket No. 6047, Order No. E-8022, decided January 7, 1954.