22/12/08 - receipt of indicative bids for acquisition of its business. I wonder when the next announcement might be, but the markets have been performing quite well, so I can’t see those potential bidders pulling out.
Doesn’t matter about one or two cents movement unless you are a day trader, when and if there is a full takeover shorter will cover and share price will bounce. If there is multiple bidders than we could see an interesting bidding war.
The fact that BNB is in such a vulnerable position and a major share holder/lender of BBP, they would be happy to sell to meet their re-payment given the price is reasonable.
I think 2.7B of BBP’s debt have an interest bearing of 8ish percent on them, if someone like AGL or ORG took them over they could arrange a re-finance for a much cheaper rate.
Power bills is widely expected to be more expensive in 2009 and onwards, if BBP can survive this crisis we should all reap the reward for holding.
BBP Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
