At the AGM, the company said they were open to either chunks of...

At the AGM, the company said they were open to either chunks of asset sales or the sale of the whole company - whichever one made business sense. At that point they also said there had been unsolicited interest. Subsequently, the sale process commenced and we now know that there has been strong interest which is now moving to the formal bid stage.

Either way, the demand for power in Australia is not going away and BBP has assets that are on the ground, working today.

As I have said before, this is a simple cost-of-capital play and if a suitor can source funds at a lower CC than BBP (which for a major player probably isn't too hard), then the ~$330m odd of EBITDA is worth paying for. If they are an energy company, they will almost certainly find synergies with their existing business too.

The current market cap of BBP is only about $65m. So the simple question here is (after the management contract) how much will the suitor be prepared to pay for the company and is that more than 9c per share?

Seems like quite an easy one to me...