Dubai Investors Question Emaar's Merger As Shrs Slump | wsj.com

Investors Sunday showed their anger over the surprise merger between Dubai's Emaar Properties PJSC (EMAAR.DFM) and three struggling Dubai government-owned real estate companies. Shares in Emaar tumbled almost 10%, the sharpest decline since Nov. 18, as investors questioned how the developer will benefit from the deal that may create an entity with a vast land bank and 13.4 billion U.A.E. dirhams ($3.65 billion) of debt.