afr article, page-29

mik01, I not a hater buddy unless having a different view to you makes me one.

I would suggest to you that asset valuations have also changed just a bit from that seen in recent years as well as conditions in the debt markets and you shouldn't under-estimate the latter in driving acquisition multiples especially for PE buyers.

People who are hanging out for $4.40 need a reality check but I do agree they are unique assets but this is a fire sale in a depressed market and you don't get a premium price in that scenario.

The bidders all know that they will be negotiating with the banks to buy the assets if mgt don't get the debt repaid soon.

Don't believe that the three bidders are all serious either - at least one maybe two bargain hunters IMO.

Looking forward to the saga ending soon anyway. Good luck.