Ann: Strike increases ownership of Warrego to 19.9%, page-196

With all the traded volumes, only time will tell whether it's short term money, churning, or predator accumulating, or a mixture of all the above.

IMO, STX would need to be trading at 42c or above, equivalent to 32c for WGO at current scrip ratio, in order for WGO board to reconsider, but that's assuming BPT will drop out come next Monday. Right now, pending their matching right process, BPT is still the accepted bid. If BPT drops out, then Hancock's 28c bid will be deemed superior unless STX's price goes up significantly enough to warrant reconsideration by the WGO board. D&D have made it clear that they want the certainty of cash as they are clearly looking to exit the business and run off to the Spanish hillside.

Also note that based on Euroz calculation (which correlated quite closely to what I'd calculated in terms of look thro valuations), Hancock's 28cps bid has a look thro valuation of 49cps for STX. So hopefully there is a big more to the move in our SP to catch up to the look thro valuation.

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