I think the deal closing sweetener was the concession to appoint an independent party to review the AETD sales process when it occurs and to grant to surviving BEPPA holders on Nov 16 any extra funds over and above the 43 cents that is being offered.
If the recently newly reported holdings in the so called 'RBS friendly' nominee companies have bought in prior to this concession being given (or maybe even they bought in as leverage to get this concession), then they would need to have a really bulletproof plan to get more than the 43 cents and more than the extra proceeds of sale.
Whoever is running the show at Bronte Capital needs a pat on the back.
BBI Price at posting:
3.5¢ Sentiment: None Disclosure: Held
