who can understand this logic, page-30

forget the brokers, they have vested interests or usually are just too out of the loop to know whats happening. I think Steven Bartholomeuz's piece represents the situation better.

It's a vicious circle now as the lack of confidence shown in the share price means they only have one avenue to raise funds - sale of its assets. the crushed share price and removal of the option to raise capital by share issue itself puts it in a difficult position to bargain. potential buyers know they can dictate the terms to asciano because they are the only feasible source of capital for them. the title of the bartholomeuz piece says it all - "without a leg to stand on" that's the situation they're entering the bargaining process now.