what the weekend australian says

Yes that what is says on page 34:

ASCIANO HARES RUNNING

It is said the best horse to back is self-interest, because you know it will run hard.

So, when there is an auction for a company, the poeple running the auction will try to create the impression there is a lot of interest and competition.

Lazard's John Wylie plays this game better than most, with names such as Graeme Hart carefully dropped late in the game (by others), just to create some bidding tension on the weekend.

By Monday at the latest, Asciano should reveal just what it has done in light of the 102,000 offers reported in the media.

Private equity firms TPG and Carlyle are running a cornestone investment and subunderwriting model to raise $2bill dollars.

They think that's how much money is needed, and their investment bank advisers would like a big capital raising to generate more fees.

Asciano's Mark Rowsthorn wants what's best for the Company-of which he owns 10 per cent. The bigger the equity raising, the more he will be diluted-and maybe even be shown the door.

TPG has enlisted Canterbury Partners to join Macquarie and Goldman on its ticket, in part because the firm's Simon Jones knows Rowsthorn.

Then again, so does Macquarie, because it sold him the dumb idea about a financially engineered bid for Brambles.

Conflict and self-interest are running hard in this race. Thankfully by Monday sharegholders should at least know where they stand-if not whether the company can be saved, and under whose leadership.

Read, enjoy it, and arrive to your own conclusion.

The part I like it most, is where it says that TPG and Carlyle think that they will need $2billion to take it. So if $2billion will take it, how much we are going to receive for each shares??

Buddy