I have been pondering why a company would offer 2.7bn for DBCT, when the market cap of BBI is $180m.
Why doesn't a potential suitor for DBCT team up with a private equity firm.
Offer 20c a share for BBI, use the extra $2.2b they would have paid for DBCT to pay off corporate debt, SPARCS and BEPPA - then carve off DBCT for themselves and let the private equity firm make a massive profit on selling off/relisting the rest.
Sure, there are a couple of BNB poison pills lying around - but they might be able to be bought off for a suitably exorbitant amount.
BBI Price at posting:
7.0¢ Sentiment: None Disclosure: Held