AFR article says NRW preferred bidder for BGC, page-32

The offer will be presented as soon as NWH have determined the Equity and Debt split. With low gearing and cheap debt, NWH should fund this transaction with debt not equity.

I believe NWH are currently sourcing about $300k of debt to fund the acquisition. The residual will be funded with a capital raise.

As banks are involved, I expect a preliminary announcement in the week beginning Monday 18th of November.

If the SP climbs to $3 over the next two week the Capital Raise will be $2.60-$2.70, a 10% discount. This price avoid unnecessary equity dilution.

NWH have indicated they don't want all of the business, so funding a majority of the acquisition with Debt allows unwanted business units to be easily sold over the next 24 months.