Bradken to explore merger with subsidiary of Chilean industrial group Sigdo Koppers --- from smh

"
Mr Greiner said the recapitalisation with Sigdo Koppers and CHAMP, which bought and sold the company more than a decade ago and counts Mr Greiner as a member of its advisory board, and the potential merger with Magotteaux, presented a better option.
"What remains to be worked out is the extent of the future profitability of a combined business and how much Bradken shareholders can get in terms of value. But everyone, in terms of SK, realises we are looking at a value that is very clearly above the $2.50 [offer]," he said.
"PEP and Koch know my number and if they come back and it's an attractive price it is perfectly obvious what the board will do."


Interesting comments from Nick Greiner, seems the 60 days will give PEP (or other suitors) some pressures to come back with an improved offer, or will see the De-risked Bradken falling into SK' hand.

those who short the share at $1.50 are brave!