buy bbi not dbct?, page-6

What difference does it make to a cash rich company how much debt there is when there's $1 per share of net assets which they could have for below 50% of that, including their desired DBCT, or perhaps even looking further afield, PD Ports because there are undoubtedly plenty of companies interested in acquiring it.

If you ignore interest expense, BBI is a very profitable company, some of the larger players could easily renegotiate the debt and pay it off immediately at a significant discount, leaving them with valuable assets they could either sell for above book value as we have already seen, or hold for their income streams.

The concept makes sense, but as we've all seen recently that's often not the way it works, certainly won't be getting my hopes up whatsoever for a full takeover, sale of individual assets is infinitely more likely.