will ugl buy-out downer??

Haven't read/heard anything but DOW is clearly in strife. UGL and DOW dominate rail in Oz and Downer has a 49 per cent stake in the Reliance Rail consortium, which has a 40-year contract to build and maintain trains in a public-private partnership with the NSW government. Buying-out DOW would allow UGL to dominate rail as a virtual monopoly. Strike while yr opponent is down and almost certainly going to need a capital raising.