I've had the same thought. STX have essentially over diluted their share price by failing to purchase a majority stake in WGO. Admittedly, the price of 36 cents is high for an equity raise for current market conditions... but if the company is worth circa 80cps, then the over dilution would not be in shareholders best interest..... and therefore a buy back at 36cps for anywhere from 100 million - 200 million shares would not be entirely crazy, even for a small cap stock.
It would also cement to the market STX's stance that 36cps is not a "pumped up price" due to the Takeover premium applied to WGO by Gina.
Strike has been 2 steps ahead in most cases, so I trust them to take the right actions, but I do feel a tinge of wariness for STX having such a massive cash position at the expensive of the current shareholder.
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I've had the same thought. STX have essentially over diluted...
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