Here's a question that I've been scratching my head about. I don't have the legal/financial knowledge of how this works:
It's certain that STX is not going to acquire WGO as they originally intended - the %'s won't allow them to do that.
But, there will still be a significant number of shareholders who will convert their WGO shares to STX.
Now, WGO is still going to remain as a JV with 50% share of WE.
But doesn't that mean the remaining shareholders in WGO will be left with a bigger share, since it's now fewer people for the same 50% cake?
What am I missing here?
Ann: WGO: Strike's First Supplementary Bidder's Statement, page-328
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