Put me down for a dollar each way..
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mmm, just marginally more than current market cap of $241m @13.8c
Probably just picking their battles and leaving rugby alone. Spark signed on as the Wellington Phoenix technology partner recently, and there was a little hint on the Twitter announcement thread that Spark Sport may go for the aleague rights in the future.
I wonder if there's any arbitrage to be made?
Aye, even for those on very low average buy ins - I don’t think you should want a takeover now. You would get pennies on the dollar.
Rather let a dividend resume soon - get a significant lift in SP and then pray for a takeover if that is the exit you want.
For a company that can still easily pay a $50M dividend, letting someone come in now and offer, say, $300Mish would be insane.
Especially with the very clear plans now to stabilise and grow the business. A market value of $1B is not ridiculous if the execution is good. Doesn’t have to be perfect execution - just get more stuff right than mistakes made (there will be mistakes).
Yeah that is very true - depending on how the SP behaves after the next lot of results.
If it is still way low then I too would much prefer a buyback than a dividend. But I bet they will choose to declare a dividend instead because it will have a better affect on the SP (short term).
The Board will be under a lot of pressure to sort out the share price right now. And not everyone is a long term investor preferring buybacks etc for a higher gain in the long run.
Yes, a takeover now would be bad and a fire sale. But a proposal would be good and would give Martin a platform and if played right, make him a hero. I don't think the board would be on board but if the institutions were I'd hope that Black Crane or Allans Grey would pop-up and talk some sense into them.