Dangar,
Re "wouldn't that then also be conditional on PE?"
Yes it would, but we won't care about that, as the price will not be a measly $2.20, it would be more like 4.50 or 5.00. That was the whole point. We couldn't believe the $2.20/B which really stuffed up our SP valuation, which also led to speculation that there must be something behind the back door between COP and WPL.
We could in theory PE, sell 25% of it Keep 10% for ourselves and still have money left over. Now how good is that?
KKW
Today's RIU, page-60
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