A Walyering spin off? Dunno. My appraisal of the STX offer is that Walyering was the only target, they didn't want to pay for our other PB assets and I have said for months that Gurvantes was our insurance policy against TO. Maybe STX just underestimated the messiness/cost of the Gurvantes spinoff, I have tried to think of a smart, cost effective way of doing it but TBH, I just don't think there is one.
Colby's Response to STX Offer, page-254
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