Who are the beneficiaries of the Plantation Mergers?

What is the rationale for merging three independently profitable enterprise which has strong growth, consistent profits and hence good dividends for its shareholders?If the simple reason is to be big then it is a poor reason. Big corporation need not translate into efficient enterprise. In fact it can be just the contrary.
When three different corporations with three different goals merged the results can be conflicting.Among the three perhaps only Golden Hope and Gurthrie corp.can deem to be similar.But Sime Darby is a different kettle of fish. It is a conglomerate with diversified interest in plantation,distributor of heavy machinery, distributor of cars, assembler of motor cycles and cars and a host of different businesses that varies from one extreme to another.Under such circumstance it would be foolishto assume that any synergistic effect can be derived from such a union.
Then what is the true reason for the proposed merger?.First let us examine the players behind the merger.CIMB which heads the merger is led by NazirAbdul Razak.Permodalan National Bhd which owns majority shares in the three entities is led by our DPM Najib Abdul Razak who sits as one of the trustee on the board of PNB.The fact that one party is the initiator of the proposed merger and the other is a party related to the proposer should create enough suspicion.
In the end game one should just look at theprincipal beneficiary of the merger.What is the obvious motive for taking a path that is going to be messy and full of obstacles.If anything the first beneficary would be CIMB which would perhaps collect acool $150 to $200 million in consultancy fees.And asusual the principal losers would be the shareholders who would see their investment being diluted.
Finally,the million dollar question is who will be the actual mysterious beneficiary of the merger?This will become evident when he merger is completed.