Yes, I noticed that too and I agree. I suspect the fact that OSH outright dismissed their approach was the clincher. WPL might have a small amount of wiggle room, and if OSH had engaged with them they could perhaps have reached an agreement.
But OSH basically said "your offer is so insulting we're not even going to respond" which shows WPL just how far they'd have to up the bid to be successful. WPL know there is no shareholder value in a higher bid.
STO is who they should be sniffing around for a disparity between bid value and true value.
WPL Price at posting:
$28.41 Sentiment: None Disclosure: Held
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