All - it's worth pointing out that corporate transactions are typically quoted based on Enterprise Value (e.g. add back net cash and liquids) not Market Cap. If the bankers/lawyers have leaked a "$1bn" value they're referring to Enterprise Value. $1bn EV for WSA is around $3.70-3.80 (see my first post).
I highly doubt a bid close to $3.00 that's funded mostly with IGO shares gets through a scheme vote. I'd vote no and for me personally that'd be an easy decision, I'd rather just keep my WSA shares. For what it's worth, I've significantly increased my WSA position since I first wrote this post, with some of those shares bought above $3.00. The only reason I haven't bought more WSA is due to the Evergrande situation and because I'm saving some capacity for another interesting transaction that's coming up.
WSA Price at posting:
$2.97 Sentiment: Buy Disclosure: Held
