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09:26
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Originally posted by CYMON
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SBM have snared themselves a bargain here but it was always going to be a tough sell as BDC were at a disadvantage not having the capital to progress this further. I notice that the terms include a provision to match in the event of a competing proposal for the BDC assets. I assume that both NST and Norton will consider the SBM offer and determine if it's in their interest to lodge a competing bid. SBM have several advantages which make them the ideal owner so will just have to wait and see how this plays out.
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Good summary, Cymon! Many will be unhappy with this, but I am not. They had to pivot and as you say, a competing bid may emerge in the coming weeks. It’s a start.
