They have DF priced wrong again buy with both fists here is why this is wrong: Walk check my math, lol.
Each df share is entitled to and should be equal to .80 wwav so they are saying, you can believe it or not, .80X17= the df portion that is WV = 13.60 so they are saying at 16.60 the milk division is worth 3.00. The milk division is worth 10-16 alone.
The issue is now and has been since about 2008 regarding DF, the MM decided, df is not a real company, but a proxy for the cme milk price, and the truth is df cannot raise margins and milk has been decreasing in sales. That said, those sales they want to discount are 10B worth. Next year DF will generate about 2.00 a share in FCF without WWAV or Morning star. DF will be a stodgy dividend play. WWAV should run. When all is said and done DF will have a solid balance sheet, and could be debt free in 3-4 years if they pay no divi.
As for me, I am at the point where I will of necessity be liquidating most of my portfolio. Still not working, will need to sell roughly 1/2 my holdings in the next year. Hope to hold df as long as I can, I waited this long, should get to mid 20's in a year. Which means I sell less. In all, my buy decision near 10 worked out, and should even get better.