"The West Australian understands Pilbara is set to announce a $230m capital raising underpinned by AustralianSuper and RCF to effect the deal which would allow it to repay Altura’s lenders, clear its debt and assume control of its assets."
Hey sjlasx
Its appears to me that pls will purchase the debt
From recent articles not a bid on the asset.
The break fee is most likely in the order of $10mill so pls will only have control over the assets as It plays out through the administration process and potential bidders would have to bid higher then the $230 plus break fee to purchase the company which will still need to be voted on.
There is still a chance of a script offering to ajm holders which would allow pls to own ajm with out any rival bids.
Have to wait and see though
Cheers gltah
Ann: Trading Halt, page-169
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