So... is one bird in the hand a fair price for two in the bush... maybe... at some indeterminate point in the future?
Meanwhile, of course, there is also a real risk of STX's share price falling, or stagnating, instead of rising.
So no, 0.4586 STX shares is not a fair price, even including the *possibility* that STX shares may increase in value over time.
Ann: Response to Media Coverage - Non Binding Indicative Proposal, page-115
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