In an update to the market, Asciano said it had received multiple expressions of interest from a range of industry and finance-sector parties.

Asciano said its “monetisation” process now includes consideration of up to 100% sales of its coal or container ports business divisions and proposals for other assets and businesses of the group.

Signalling a possible takeover, Asciano said proposals were received that would result in a change of control or a recapitalisation of the group.

The company is aiming to announce a transaction by the end of the current financial year.

Asciano had net debt of $A4.59 billion at the end of last year and hopes to cut debt by $1 billion by selling assets, with negotiations continuing.

Former Citigroup financial analyst Sanjay Magotra has been widely credited for weakening Asciano’s share price through a shock report on November 11 when he slashed the target share price of the company from $6.08 to 82c.

Magotra has since left Citigroup – and while it has been said the departure was voluntary, the timing also coincided with a round of job cuts at the investment major triggered by the global financial crisis.

Asciano’s shares have increased 3.5c today to.

Back in August last year they traded for more than $5.