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.
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