From yesterday's AFR Street Talk:
http://www.afr.com/p/opinion/new_redcape_bidder_emerges_at_the_GgbUXEJgw9Gra1e1djwYWJ
The article says that another suitor has approached RPF with an indicative buyout proposal, just says before the company is due to make a debt repayment or face liquidation. The new party is thought to be a large Aussie financial instituion, but it is uncertain whether the move will translate to a firm proposal.
The other two offers (8c and 10c) have been called "nickel and dime" offers. RPF is cobbling together a get-out-of-jail card to deal with the looming amortisation payment deadline that could have sent the trust to the wall. Goldman Sachs Asia and two of the world's biggest hedge funds, control 39% of the senior loans.
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We have an updated NTA of 33c. Let's see what this new party can offer. I think the debt payment might be due today, so I'm expecting a new update today, in addition to yesterday's update.
Good luck, holders.
From yesterday's AFR Street Talk:...
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