The Distillery: Urban alchemy

Jotters heap praise on Transurban Group’s bid for control of the Cross City Tunnel with one eyeing an even bigger deal on the horizon.

Transurban Group’s bid for control of the Cross City Tunnel has received widespread praise from the commentariat. Widely considered the most logical acquirer of the distressed asset, Transurban made a hedge fund-like move with its acquisition of debt relating to the toll road, according to one commentator. But can it do what no other Cross City Tunnel owner has been able to, and turn the road into a financial success?

Elsewhere, the headline profit lift at Orica is not anywhere near as good as it sounds, according to one scribe, while another commentator continues to pile the pressure on David Jones as ASIC takes a closer look at director trading.

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