If MLX hadn't increased their holding in WGR in 2010 to 32% I would have thought perhaps the disposal was to help fund Winginella, so I'm thinking they will go for a T/O of WGR, and if not then they'll be looking to sell their WGR interest for as high a price as possible.
Option A seems to make the most sense. Option B a good outcome too. Seems WGR might be a good place to be this year.
JT
merger upside, page-27
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