Are you sure everyone wants the options converted? MW's entities have sold their options, at least to the level below the T20. If the oppies get converted, MW is significantly diluted. If there is a divestment as per Dan's calcs, then MW and all current holders are not diluted.
I have seen MW off-load freebie oppies previously, as it brings down his average buy price.
Balanced against this is DP and Merchant are large oppies holders. At least according to the last T20. Merchant can offload oppies without disclosure as it doesn't effect voting rights. The next T20 will only be released in the next AR, after oppies expiring. Unless the company is coerced to do so beforehand or another party requests and posts it.
BRK discussion, page-918
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