takeover poison, page-3

even though they written off the $2bn of equity in the JV they still have $5bn hanging over their heads on that

also the have about $5.6bn of debt in parent

all up about $10bn

noone can takeover the company unless they pay $10bn in debt

the debt on the JV is non recourse

they should just dump the assets on the banks and say to them that we are not going to pay cent

let them deal with it

then if someone wants to takeover the parent company all they have to do is deal with $4bn of debt

$4bn is lot less than $9bn or what ever it is

I rang them at GPT and asked the woman doing PR about the possibility of takeover some months ago. She seemed to not want this to happen and was very confident that it wouldn't happen. I know now why.
she also said there was hardly any chance of a capital raising.
Never trust the bloody liars.