The speculation is getting complicated, but SWVC would have to give TS something for his investment of 2.7 mil. He (probably) wouldn't just give his cash back to SWVC just for the tax consequences alone. What does SWVC have to give? Or maybe he backdoors it through GS by buying a bigger stake there prior to the assumed merger or purchase. If that is the answer, that would amount to a bit of a shell game. Big speculation here. Anyone with more solid ideas than I have?