There's limited upside. If the deal falls flat, the SP lingers for a few more years. Other bidders put off by Skip/Stonepeak 19.9% stake (a real position, not just others agreeing to support). If it goes through will take a long time in a high inflation environment where other investments may have a better upside potential.
I've sold down my overweight position based on the above and will continue to hold my LT position until they've acquired 50% relevant interest, then I'm out completely.
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