don't think there is a bidding war. Have a look at this article...

don't think there is a bidding war. Have a look at this article in the "The Australian" today. cheers
M'plex surge may pip takeover
Turi Condon
May 04, 2007

MULTIPLEX'S surging share price might scuttle Canadian white knight Brookfield and the founding Roberts family's takeover bid for the well-known but trouble-prone builder.
Sources close to the bidders said that, at the current share price, it was "highly unlikely that a bid would proceed".
Shares in the contractor were trading at around $3.80 before the Brookfield/Roberts family proposal to partly privatise and restructure the company, announced on February 5.

But the shares built up a head of steam on the prospect of a takeover.

On Wednesday the latest rumours of potential new bidders such as Leighton Holdings and Mirvac sent Multiplex shares up 4.7 per cent, closing at $4.89 and taking the company's market value to more than $4 billion.

The stock drifted back slightly yesterday to close at $4.87. Brookfield and the Roberts family are believed to have completed most of their due diligence and, according to the source, are in a position to determine the value of the company.

One broking analyst contacted yesterday said the question for the board was whether "they will see past the froth in the market".

The Roberts family is believed to be committed to the Brookfield partnership.

"Brookfield offered the Roberts family a true joint venture across the business," the source said.

Andrew Roberts, his brother Tim and sister Denby Macgregor have stepped aside from their executive roles to avoid conflicts of interest, leaving chief financial officer Bob McKinnon and chief operating officer Ross McDiven to run the Sydney-based company while the offer is resolved.

Analysts said a hostile takeover bid for the company was unlikely because the Roberts family controlled 26 per cent of the company.

The joint proposal means that Multiplex's prized property trust - with $3 billion in assets - would remain on the Australian Securities Exchange and be jointly managed by Brookfield and the Roberts family.

The contracting, development and other divisions would be sold to Brookfield.

Multiplex listed at $4.05 in December 2003 and reached a high of $6.07 before crashing to $2.56 by May 2005 as the severity of its losses on London's Wembley Stadium emerged