Sludge - I just can't see how the BBs will make an offer that IG...

Sludge - I just can't see how the BBs will make an offer that IG will accept.

If the total value of B4M was $1b, the BBs will offer us either;

1. $250m+, because as it stands, we own 25%. IMO, no incentive for AGS to sell, and would imagine IG would think the same.

2. $1b+, why would the BBs make an offer that is based on 100% of the total value of B4M when we only currently own 25%? Would IG see this as a sign of guilt from the BBs? IG's ego may get in the way and if he thinks the BBs are concerned about losing the lot, he would get far greater satisfaction from winning it in court than selling it to them. Nb. Us shareholders think differently to how IG would think about this scenario.

The only other "smoky" could be an offer of around 50% of the total value. IG said to Metalduster that AGS would be willing to look at 50% ownership and managing rights (MD - correct me if I'm wrong), so if the BBs made an offer to buy of say $600m, it could be something that IG considers.