macquarie bank bids for redcape: afr

http://tools.afr.com/viewer.aspx?ATL://e322ca0a-ea3a-11e0-b713-6c290c1375ad§ion=tools

The article says Mac Bank submitted plans on Monday to recapitalise the company, pay off senior and subordinated debt and inject $$$ for working capital.

The senior debtors still need to make a waiver. The Soul Patt's group and RPF are yet to arrive at a concrete offer.
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Thanks, whitepointer, for your thoughts. You are probably right. A few seem to be scrambling now to sort it- 33c NTA is probably too good for them to refuse. We may get more than 10c after all, if the company continues as a going concern, and operates instead of being taken over. The headline does say a "bid", though, wich sounds like a T/O.