There has been a lot of discussion of late on a merger between WGO and STX or the takeover of WGO by STX.
Given that there is a raft of broker research available on the WE discovery and I thought it was an opportune time to compile the data and review.
Note this may not be an exhaustive list, but it is what I could find publicly available.This is not a company value and it is not advice.To create a company value, the other assets of WGO and the current cash (and option proceeds) would need to be added.The company value would be higher than these numbers on that basis.
WGO Shares (FD)
848.9
1 2 Broker
Date
Company
Value A$m
$/share
3 4 Petra
29/11/2019
STX
884
$1.04
5 State One
2/12/2019
STX
343
$0.40
6 CSFB
18/12/2019
STX
503
$0.59
7 Hartley
6/04/2020
STX
359
$0.42
8 Euroz
13/05/2020
STX
333
$0.39
9 Bridge Street
19/06/2020
WGO
343
$0.40
10 Canaccord
14/07/2020
WGO
241
$0.28
11 12 Average
429
$0.51
13 Low
241
$0.28
I think this demonstrates the value argument for WGO at the current share price of 16 cents, with 100% plus upside to the low valuation.
I am also sure that STX is aware of these values.It would make a good starting point for future discussions, FWIW.
DYOR
Cheers, AL
