Jarden could comment on the deal in a overall and indirect sense without commenting on the deal details.
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Jarden could comment on the deal in a overall and indirect sense without commenting on the deal details.
You are correct Stallion, even if the universally negative feedback so far is a wake up call for them there is no way they say anything for a while.
It would be very arrogant at this point to proceed with this deal if shareholders are required to pay anything for the business, given the very negative sentiment.
The only way I see a MW deal being palatable is if Oaktree & co pay us some money to take the business and the debt. And that aint gonna happen.
And even if it did, it is prbably still a bad idea as it would make it impossible to merge with NZME later (a much better proposition than MW) and would also probably complicate things for a telco merger. So we would own a crappy asset with limited upside yet significantly reduce our options in the future.
No thanks.
https://businessdesk.co.nz/article/t...-rock-the-boat
2degrees: “... Owning the household wallet is a critical part of our strategy. Bundling is a critical part of our strategy.”
y'all aware SKT had a conference call with analysts yesterday? anyone manage to listen in?
was surprised one was hosted for analysts only but no mention of it to the NZX or made available to shareholders.
doesn't sound like much was disclosed - wouldnt be drawn into much detail, wouldn't comment on synergies, etc, but mentioned mediaworks ~$40m of EBITDA was covid impacted
Not long now before market cap drops below $400M.
Really not making it easy for us to get a good price from PE now.
This will go down in the textbooks as one of the stupidest calls from Management and The Board after so much hard work when the light was at the end of the tunnel...
Which is why I still think some sort of statement from the Board, indicating - but not saying - that they acknowledge shareholders concerns and imply that those concerns will be taken into account in making their decision.
Otherwise by the time they make any sort of statement they will have wiped 20% off the SP and value of the company. So - dampen down the fire as best they can for now and put it out completely by giving the thumbs down. And then start the re-building by announcing a return of capital to shareholders and get back to executing their strategy.
I don't think they will say anything more until they have made a decision.
Best case is they go into a trading halt with a buyout offer. This becomes their cover story for why they didn't proceed. They were in the middle of due dilligence with MW and then someone made an offer too good to refuse...
If that doesn't happen then yes, the sooner they kill this the better. Quickly get onto the capital return and dividend to make amends with shareholders...