Ann: Unsolicited, Non-binding, Conditional Proposal from Sigma, page-29

If I were WES, I would drop my offer and take a breather.
I don't think SIG is serious in my opinion.
WES should concede to SIG and walk away to see what SIG does.
SOL know what they are doing by selling out now, they probably just didn't expect such a premium on their expectations.
WES can snap it up later after SIG has fun playing with API if they are serious.

As for this story running it's course, I'm intrigued on whether there is another twist to all this.
If somehow this all falls through, I wonder what would happen to API. Would be very interesting.