Hey invertedva,
all good, that's why we are here - to discuss.
The increase to ~9% was bought on market between Nov 30th and Dec 7th. It is announced at Regals Holding-Update released by WGO. And, remember yourselfes - such an "accidential mistake" has happened before. The "Copy-Paste" faux pas in one of the last STX presentations, where West Erregulla was market at 100% owned by STX. At this time, they were in the middle of the merger negotiations...
STX has a lean management and when you were constantly discussing "off market" insights, mistakes like this can happen.
Your last point, why should they do the 1:1 with Regal first, if they have a deal with each other for more than 29cent. Otherwise Regal wouldn't buy now at higher level. Catch the low hanging fruits first, and from my perspective - the shareholders that have done the 1:1 were those low hanging fruits. Regal has the cash power to buy much more, and if STX would do a 1.1:1 only with them, Regal could be interested.
But - maybe everything is pure coincidence.
just my thoughts...
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Ann: Strike increases ownership of Warrego to 19.9%, page-307
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