re: Ann: MQG: Macquarie offer to eligible uni... I understand it...

re: Ann: MQG: Macquarie offer to eligible uni... I understand it is not the effect of a shortfall, thats obvious, my comment was in relation to how MQG has "structured" the deal.

I would guess that MQG might structure it in a similar was so as to avoid the 20%. By doing this it increases likelyhood of privatisation on several fronts

1)increases the prospect of the ASX delisting BCS due to investor spread(ie not enough shareholders, see ann for warning re spread)

2) macquarie forces large shareholder into paying second instalment, then makes a deal with QIC(or whoever) to take private at like 70c with one payment remaining after 6 months. Due to shortfall plus current take up cost is minimal, dump it into one of their funds and presto