Ann: Results of Scheme Meeting, page-73

Pappa, you may be aware of the old cliche that says: never assume anything as it makes an ass of u and me. Whilst another bidder was always unlikely, it was never a never. Yes, if Gina et al really are planning an imminent bid they may have elected to let stx do the admin and paperwork on Tpd and then make their move...after all, they can suppress stx's SP thru shorting etc. However, there was always a chance that they would couple shorting with denying stx badly needed FCF (and possibly pushing it to a placement). If you believe the TO price assumptions (there's a deriviative of that word again), She will pay more for Tpd now that it is incorporated into the bigger beast - another reason why she may have counter bid. In the end, she has a lot on her plate atm and if she plans to move soon it wouldn't have been worth the "hassle".

Again I say, it was never a never...check how many gurus on HC insisted that wgo would NEVER be taken over before stx, the operator! Learn from history.