Ah good old Street Talk, the source of intentional leaks. Probably a leak tactic from Jarden to bump the share price up before initial bids come in.
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Ah good old Street Talk, the source of intentional leaks. Probably a leak tactic from Jarden to bump the share price up before initial bids come in.
Removed post.
Well, clearly the talks were in progress before May 20 for a potential buyout.
I agree with Balance that the good news is Sky are finally ready to discuss a deal at least (wheras last year they rejected Atairos out of hand, no attempt to negotiate from what I heard).
Abit of a gamble by Sky. If a takeover does not eventuate, shareholders won't be seeing $3 anytime soon.
I think a deal will be done soon - they would not have cancelled the Investor Day if discussions weren't serious.
The only question is, what kind of a deal do they do?
If it is $500M but Sky are able to distributure a siezeable chunk of the cash balance to shareholders by way of a special dividend then you would have to say that is probably reasonable given the way things stand.
If it is just $500M (a paltry 15% premium) we riot.
Yo SKT, where's the continuous disclosure at? confirm or deny the rumours
Asked for comment about this morning's AFR report, a Sky spokeswoman said: "We don't comment on speculation".
Only speculation at this stage, it is good that is being reported though. so us shareholders have at least some idea of Sky's thinking.
It sound to me like they have had an offer of around 500m and are fishing for more potential buyers to up the ante maybe?
MIRA/Aware would clearly be a lead contender to shop it out to. KKR also very active in the region.
With this news, I believe a decision was made not to use capital to make investments and instead shop the business around. Presumably they have had at least one informal indicative offer at a level that encouraged them to open it up to market seriously. Hence cancelling the investor day.
6.5 percent rise on opening, can it hold there or advance further or will the initial enthusiasm linger. Whatever happens in the next hours and days I will not be fast to sell any. Am keen to receive a well earned divie first