Quintis has declared "little confidence" in departed founder...

Quintis has declared "little confidence" in departed founder Frank Wilson's ability to orchestrate a successful takeover bid for the company.

Glaucus would have to say that, if it is successful then Glaucus is screwed if they have not closed out their shorts by the time of the offer. THis would then be their one and only foray into Aus and they woudl leave with the tail between their legs.

The fact that FW left means there must be some confidence that there will be an offer, otherwise it's just rumour and he could have ignored it or told the market that they had been approached but nothing was serious.

The only thing I am a little wary of is if Glaucus and KKR are working together, that would be nasty.