Yeah, I attended. The bid price was obviously pretty ordinary -...

Yeah, I attended. The bid price was obviously pretty ordinary - which presumably is why Leighton declined. My guess from the comments was that it was only 90 cents.

Again presumably that was from the private equity mob. They wouldn't be able to extract the synergies a trade buyer could and hence why such a low price. It sounded like the antics of Leighton scared off a lot of the trade buyers.

There were some hints from the Chairman that they are exploring options to extract value for the company - that ties in with comments in the AFR today about it.

Overall it was a bit disappointing but get the feeling it isn't over yet. Leighton don't want to sit around with a 50.6% stake in the company forever so you would expect some sort of action...but could take a while.