Arrium to Maybe Keep Moly Cop...?, page-16

Afr this morning reports three funds walking away.

The headline should have read
Three lite weights walk as no bloodbath here.
Instead it reads as though it's a blow to Arrium as like, Carlyle and tpg go cold.

Firstly the three funds that went cold are small in comparison to the others.
Two are sub 60b.
And blackstone is bidding and is one of the largest on the planet.
Plus there are six others.
A part sale has been mentioned.
This enables Arrium to retain some of mc's earnings and provide the bidder with comfort as they are already running it well.
A part sale, all debt cleared and a strengthening io business.
This is certainly no disaster. It just needs to be presented to the market so the nerves are calmed.