For maximum impact (which may protect CNP's position from...

For maximum impact (which may protect CNP's position from potential hostile takeover) judging by the "style" of their corporate communications will be to prouce on big ann supported by webcast. CNP could release ann with :

1) Confirmation of extension by all banks to 30.9 with positive spin - thanking the banks for their continued support and their sharing of our belief in our growth strategy
2) Results for H1 to re-inforce that the trading position/cashflow of the business is on track (re Glen's recent release of the business performing from an "operational perspective") - but tempering it with balance sheet re-structure and that we still have a lot of work to do"
3) Bids have been received - confirming $1+.....but adding (possibly) in view of 1) and 2) "we have decided to decline the bids in favor (given Glen is an American) of continuing our growth strategy with our bankers full support.

I don't think their communications will be optimistic - I think it will be factual without optimistic rhetoric - so SP will rise but probably not as spectacularly as some believe ....we might get back to prev results levels - c 60 - 65c....

Any thoughts ?