I'm with jonkey on this one.
It's a whole-of-company takeover play by someone who a) has a significantly lower cost of capital than BBP can obtain themselves b) can resolve the management contract issue with BNB.
Then the question is what $330-340m EBITDA is worth to the acquirer and whether this is more than the current market cap of $40.6m.
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I'm with jonkey on this one. It's a whole-of-company takeover...
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