This is a good question, and deserves an answer. The short version of this is that neither party to the transaction wants this to happen. Slightly more detail:https://twitter.com/scottbelsky/status/1087720973309276160 …
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If you don't dangle a tens-of-percent discount on this, it's just "Can I interest you in a share class which is strictly worse than common?"
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#1 is a share of Google common stock #2 is 5yr Treasury Goldman is selling #1 and selling (I think) #2. This combination plus a locked-up Google cancels it (#2 hedges cost of borrowing), leaving $$$. Lots of people want #1 and #2, separate or together, for their own reasons.
End of conversation
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