Nominal value
The opening bid in a merger — every good on the board for both companies, priced by type.
Count the goods or ships each merging company has on the board and multiply by the value of that good: 10 for ships, 20 rice, 25 spice, 30 rubber, 35 siap faji, 40 oil. The total is the minimum first bid, even when the announcing player already owns both companies.