I expect MIN to convert its WGO 19.9% into STX and in the process, STX will end up with <50% and therefore have the all important controlling interest, take control of the board etc. Today's updated holdings was an important development for STX to reach that position. I also think by unequivocally confirming STX will not increase its bid, hedge funds that have been actively looking to arb WGO/STX expecting STX to raise its offer, that strategy can be put in the bin now.
If STX do get the controlling interest, there is no disputing that Gina's bid has failed. Does it then make sense for Gina to cut her losses, convert her shares into STX and gear up for the main game? IMO absolutely but what do i know!
Not long now until Feb 13 as i am looking forward to the situation unfolding and we can move forward.
I expect MIN to convert its WGO 19.9% into STX and in the...
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Last
17.5¢ |
Change
-0.005(2.78%) |
Mkt cap ! $501.4M | |||
| Open | High | Low | Value | Volume |
| 18.0¢ | 18.0¢ | 17.0¢ | $1.170M | 6.732M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 1634397 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 617607 | 7 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| STX (ASX) Chart |