IMHO only, it would make better sense for WGO corporate to be merged/T/O by STX, in a scrip deal - as was already proposed, but rejected.
It has only ever been a question of price.
WGO being controlled by the two directors holding about 40% of WGO's capital, are the kingmakers here.
As a second option, would be for WGO to sell its WE interests (its 50% share) to STX in return for scrip in STX.
WGO then would do an in-specie distribution of those STX it has received, to WGO shareholders.
That would leave WGO corporate entity intact.
WGO would then contain the Spanish assets (which evidently were the issue re their value), plus WGO would retain its ASX listing and its current shareholder base, and tax losses etc.
Again, it would be a case of determining the value of that 50% of WE, but its value would be easier to determine, than agreeing on a value overall of WGO and its various assets.
WGO Price at posting:
17.5¢ Sentiment: None Disclosure: Not Held
