Article today indicates the TPG deal is similar to the Pasminco...

Article today indicates the TPG deal is similar to the Pasminco deal. The Pasminco deal the shareholders got zip, the debtholders re floated and made an absolute fortune!

Lets not let that happen again!

A successful TPG bid will be a big deal

IF it succeeds, TPG's bid to gain control of Alinta Energy through the conversion of debt to equity will be the second-biggest deal of its kind in Australia, behind the $3.3 billion transaction to save Pasminco in 2002. The Alinta board took the fight to the Takeovers Panel yesterday, picking holes in shareholders Coastal Capital and Bronte Capital's arguments against the company being put into administration in the absence of TPG's $2bn deal. Coastal and Bronte, which hold a combined 19 per cent, may not be able to topple a deal that requires just majority consent from shareholders. Alinta's preparedness to pursue Coastal through the panel shows how seriously it is taking that threat.

The question for shareholders is whether pushing for more than the 10c on offer will ultimately land them with nothing.