Interesting the admin saying there were no cross-guarantees although the group acted as if there were.
Wouldn't be surprised if they split JSW from Hughes. From what I've heard JSW seems to operate pretty independently anyway.
A Hughes/JSW split with AJL or MSV taking out Hughes? Pretty much consolidates the NSW/Qld coal market to these two. But AJL seem pretty focused on the shale gas play and obtaining funding for that while MSV might have some acquisition exhaustion from picking up just about every other East Coast insolvency.
HDX Price at posting:
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