If as reported by Bridget Carter there is a bidding war, even if in the end it's between two groups not three, there must be a chance that the offer becomes a minimum of A$3.70, not A$3.50. Perhaps higher but I'm a conservative lad.
Giving retail holders some ongoing equity in whatever emerges (not just 'cash') would be ideal but I suppose that's fanciful.
If a European group's bid was accepted, the FIRB's Canberra mandarins would be likely to wave it through 'if not Veolia or Suez' as Mr Carter suggests.
I wonder if BIN management's Mr Tartak is setting a date by which all proposals must be formally submitted? The Board would then meet to consider its course of action.
BIN Price at posting:
$3.33 Sentiment: Hold Disclosure: Held