Ann: Chairman's Address and Managing Director's Presentation, page-29

Relaxed
they ( Wgo ) also have raised 47m in cash . If the merger was agreed too, STX would have needed to raise the extra money resulting in dilution to both pre merger wGO and STX shareholders

just because STX offered 1.2 at the time does not mean WGO SP at any point in time would have been the equivalent of 1.2 STXs. The offer however does show STX analysis of WgO value. The 1.2 offer would reflect a price that maintains value for StX shareholders , therefore STX assessment of wgo value would ofcourse need to have been a fair bit higher


The gap in market caps and SP has fluctuated over the last 18 months with WGO trading briefly higher a couple of months ago. This gap will be plugged over time and the idea it’s permanent and reflects some kind of intrinsic value gap is mistaken in my view.

I may be wrong but I sense WGO will go for a little run soon