Hi Lost,
I think the total debt in the half year report will be lower due to the sale of the rail business for 9M + positive cash flows over the half year. So in my opinion, debt is no longer a major concern for COF.
In terms of dividends, my gut feeling is that we will get a small dividend (maybe 1 cps).
I think a takeover is a real possibility at these prices. I know they were being looked at by a AECOM and a few others last year.