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So you swop your shares and a vote for what? A £1 share in the Co-op, the same as Mrs McGinty and millions of others who have no interest at all in your future.

Oh, but you get the opportunity to apply for a Co-op franchise. Which means exactly what? Diddly squat!

A like-minded business? How? What? Explanation required.

If you could take the money and run this deal might make some sense on an individual basis but deferred payments and additional rebates which rely on the future prospects of the Co-op? Jam tomorrow!

What happened to the independent pharmacy sector after the sale of mutually owned Unichem? What happened to M&S Toiletries under Co-op ownership? Do you really believe the long-term decline of the Co-op movement can be reversed?