financial report out, page-16

This announcement quantified the additional impairment that will happen if the deal proceeds.
The initial impairment was $895M. This now is an additional $900M. The is a wipeout of existing equity (BBI) for the benefit of the cornerstone investor and any other new money that comes in post dilution.
The decimation of asset book values makes a mockery of what BBI have been saying for the last 12 months. ASIC need to get involved here as there is clearly a question mark over full disclosure. I wonder why Helen Liossis did not put her name to that report today? It was signed off by Mr Akers as Acting Investor Relations Manager.