cats out of the bag

as reported in the last 24 hours and not as bad as most have been assuming and that is there is no black hole in BBG's financials, it was just that TPG could not see a minimum return on investment of approx. 25% p.a - as most Private Equity firms would demand with any investment.

also TPG would have known that BBG were not willing to accept a lower offer than the $1.45, so why waste everytime's time.

the thing that baffles me is Credit Suisse and their updated price target of 41c is absolutely ridiculous (considering most other brokers are in the range of 95c-$1.05, with Nomura at 70c), but the fact that they were advising TPG on the takeover offer for BBG and no doubt they would have calculated or agreed with the $1.45 figure ??? now they come out with a 41c valuation, give me a break - credibility absolutely shot based on that !!!