RE: My Math It's max 22c per GWY share in cash equiv but only about 11 cents when split between two spinco's (laws of amrginal use) but it is the assets that hold the value and the cash just makes each one viable, for a while....until their next equity issue!. What is value of assets in spinco's ex cash? And can we place a value in time between now and time deal consummated...probaby not a way GWY shares will be valued as current premium to cash offer is cash-based only and no reason for anyone to bet on the values in two new comapnies in any big way in current macro environment...unless someone knows some---thing! $2.27+???