Not sure who is the bunny here.
Sembawang seems to have missed the point that MAH is keeping $40 million of equipment in selling its construction business to Leighton, so offering only $38 million is not compelling.
Sure, Sembawang may or may not have assumed the contracts/liabilities which Leighton would not purchase. Noone knows, unless and until they do diligence.Nor do we know if they will be profitable.
On what I know now,I will vote in favour of the LEI sale,and I am looking forward to the Xmas Creek announcenment and MAH becoming a dedicated mining contractor.
ann: new sembawang proposal, page-7
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