I am comfortable that the orginal CR funds STX raised a year or...

I am comfortable that the orginal CR funds STX raised a year or so back/used to purchase the original strategic stake in WGO, has given a return on that investment.
Also the current 1:1 dilution offer to attract more WGO shares over to STX and gain a larger bargaining stake, is better/less dilution than the orginal takeover offer.
Its all relative. Its difficult to compete with cash offers and still retain bargaining power. STX have still achieved a very large chair at the table.

Still a bit more to play out here for the long game.

STX Board/Stu putting WGO into play has been a good thing. We now have a bit more nouse and cash coming from the JV partner - regardless of how that pans out. Having the cash/resources to develop the Greater Erregulla at speed & scale is critical now. Something WGO didn't have in the WE JV piece - until now.
A gas processing plant is also key piece to fund - and figure out who owns this key asset and maximise the profits on where the gas goes/its downstream uses after that.

More twists and turns than the Furka Pass.

Can't win em all at present, when these types of assets are in hot demand.