I don't think Phil and his mates will make a play for BNB at the moment. If BNB fail and go into administration they can possible negotiate to buy the assets at cheaper prices and with out the debt. They could team up with a private equity firm and down the track relist the same asset under a new name and it will be on again.
The only question is will anyone fall for this in the future?
Just my opinion do your own research.
BNB
babcock & brown limited
