IMO the SP has absolutely no upside. A deal is so far from being...

IMO the SP has absolutely no upside.

A deal is so far from being done at the moment it is laughable and any deal that is done will likely value the equity at well below current valuation.

Then you have to get all the banks to agree to roll a large % of their debt into new facility to finance the deal which will take months if it is actaully possible to do based on current capacity in the local market.

This process will still be running at Christmas.....if it hasn't collapsed in the meantime or been taken over by the banks.