We didn’t have any idea the bid for Asciano was coming, dear reader. But everyone seems to have missed the point.
The point in a moment. First, the details. You can’t make a house without bricks. Here are the bricks.
Yesterday a collection of private equity interests (Texas Pacific Group, Credit Suisse and General Electric) made a casual bid for port and rail firm Asciano. It’s worth $4.40 per share to Asciano’s owners. Cash or shares.
Asciano (ASX:AIO) rose from $4.15 at Friday’s close. It rose all the way to $4.83.
