facts, page-25

I have plenty of idea as to how corporate takeovers work, although in this environemnt to raise debt to takeover a seriously a very heavily indebted BBI isn't going to happen. No-one has that sort of money to lend right now.

If someone came to takeover BBI (and it could happen) they would need to bring their own cash. At least A$3B of it in my opinion, maybe more.

$1.7B to pay out all corp debt and bonds

$1B+ to buy out the ords

$500M+ to take out the prefs, maybe more.

And a $1-200M for some working capital.

Would be a very expensive and hugely time consuming exercise.