asciano says four parties eyeing full takeover, page-5

9 months ago TPG offered $4.40.

Even the most conservative price I find hard to believe would be half that at $2.20

Things haven't changed that much in that amount of time and the forward projections for required infrastructure are only positive over the medium to long term.

PPL probably expected a bid to be announced today and sold it down when there wasn't..

The ann states have "received a range of proposals from a number of parties"...."these proposals include indicative offers"

The offers can't be too lowball if the company has still allowed them to proceed to stage two of the DD.

Company just be cautious and conservative with all these class actions flying around I think