Ok I want in on this if this deal goes ahead.
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There's just no way this gets put to shareholder vote, unless we are all wrong and the terms of the deal are very very attractive. Management would essentially just be putting their jobs, and more importantly their reputation, on the line.
Do you see possibility of an Offer by PE to take out SKT ?
Perhaps part consideration in SKT shares ?
Without that (ie: PE making a run for SKT's cash) it's either backtrack no deal
or it would have to be put to shareholders, unless I'm missing something..
MW would have to realise that SKT Shareholder vote will be the major hurdle to anything happening
How does SKT share register look now ? Any large piranha funds jumped onboard for a free lunch
or a friendly feast ? ;)
Hard to imagine a scenario that is attractive unless SM announced that they are gifting us the business and we just have to pay down the debt.
Even that would be a bad deal given the ramifications in terms of sky not having the option to merge with NZME or a telco later.
PE could buy both Sky and NZME for $900M right now I reckon.
Chump change for a big player like KKR.
A Sky-NZME merged entity backed up with broadband and eventually mobile could be a good little money spinner…
Skys management must be a sucker for punishment. Just as they put one fire out in Sky, they go looking for another fire.
I don't mind if they invest in loss making future growth business's. But radio and billboards.... Come on man. They are going for the holy trinity of legacy media.
As a share holder, this really does p*** me off.
Any holder that has posted here and not written to the company is doing themselves and other holders a disservice.
If you believe the acquisition makes no sense on strategic and risk management grounds, I would suggest doing so BEFORE we learn what the proposed price is. You can always make the price point afterwards, but this deal makes no sense regardless of price, and you should tell them that. I'm astonished Oaktree can keep a straight face in negotiations.