In short: Spin-off he was watching — "actually traded much better than we thought"; spin-offs/split-offs are a core special-sits category (the GE breakup doubled and tripled).
57:00So, we had a very lowcost basis and we were fortunate that, we got this $48 a share bid and we think there potentially could be a topping bid., another name that we were looking at was the FedEx Spinco, FedEx Freight, FDXW, which actually traded, much better than we thought.
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