Who knows. Market doesn't seem to care. Is the Australian credible like the AFR?
Some nuance... says DataRoom understand the offer valued SKT at 'about' $3.70. Buyer an east coast US PE Firm.
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Attachment 14828
The Sky board never fails to disappoint
When have takeover information leaked to the Australian newspaper ever been right?
Compare and contrast with the AFR’s Street Talk and it’s clear imo that the Australian is used for stock manipulative purposes.
$3.70!!!!
Holy **** that deserves a shareholder lawsuit of the board and management.
Also does that breach NZX rules?
I sense chaos to commence.
NZ is a small country with an even smaller sharemarket. The Old Boy Network runs the institutions, the “institutional shareholders” and boards of directors. These “old boys” determined that the details of the offer were not to be released to the mum & dad small shareholders. We take what they want to give us. In other words we are the last to know of things that affect the value of our shareholdings. In NZ we are supposed to invest in our expensive housing.
They prob just want all to feel content sucking up the 15c a year Div spit outs and not complain ..
things could have been worse .. like hovering up Mediaworks with attached large hock, or as an enhancement to that sliding into into bed with another Media Rag Doll that has seen better times :)
Wonder hw they got away without disclosing that to the market, especially when it’s at such a premium. Where’s NZ Regco in all this..
And what’s Board’s view of true value of Sky?
Guess first offer is never final offer, may be we might see another offer with 4 in front..may get some traction then.
There is quite possibly more to play out with this story. It seems that this little 'tyre-kicking' episode was a precursor to something more serious? Wouldn't be surprised at all to see another bid come in within the next 3 months (and not necessarily from the same party).
Especially if the NZD continues to deteriorate, making the proposition even more juicy from an o/seas acquirers' perspective.