I think Hastings and Lowy negotiated the best they could for...

I think Hastings and Lowy negotiated the best they could for themselves and in the end got a pretty good result especially for the SPARCS holders.

Then the RBS people blackmailed the BAM people into giving away BEPPA concessions to get the deal across the line, so the BEPPA holders got a sweetener as well.

And BAM got their half share of DBCT on the cheap and the other assets at the bottom of the market.

BBI ords holders are the ones who got g00sed.