there is genuine competition even if there is only one trade buyer.
if macquarie is not running a float proposal alongside the trade sale process they are not doing their job properly. And they will be doing their job properly.
They would not have had a float proposal on the table 3-4 months ago as it would have had no chance of getting away, but this would surely have changed in the last 6 weeks.
if you started the IPO process now it could be on the boards by Christmas. Like Myer.
BBI Price at posting:
7.0¢ Sentiment: None Disclosure: Not Held