  We present spatially resolved integral field spectroscopic K-band data at a
resolution of 0.13" (60pc) and interferometric CO(2-1) line observations of the
prototypical merging system NGC6240. Despite the clear rotational signature,
the stellar kinematics in the two nuclei are dominated by dispersion. We use
Jeans modelling to derive the masses and the mass-to-light ratios of the
nuclei. Combining the luminosities with the spatially resolved Br-gamma
equivalent width shows that only 1/3 of the K-band continuum from the nuclei is
associated with the most recent star forming episode; and that less than 30% of
the system's bolometric luminosity and only 9% of its stellar mass is due to
this starburst. The star formation properties, calculated from typical merger
star formation histories, demonstrate the impact of different assumptions about
the star formation history. The properties of the nuclei, and the existence of
a prominent old stellar population, indicate that the nuclei are remnants of
the progenitor galaxies' bulges.
