They might manage it with a strong partner (eg NZ Super Fund?) but AIA's market cap of $3.7b odd would be a bit of a stretch for a company of Infratil's size ( around $700m odd).
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I thought that IFT did make an offer for AIA earlier this year. But it was not enough for them to get the green light for AIA to open their books, nor enough to make an on market announcement.
The official line for the IFT rights issue was to reduce debt levels. But we all know that is code for collecting cash for possible takeover targets.
These companies who talk a lot have not got the money to make real moves other wise they would / should own 19.9% and then be the biggest holder then throw there weight around mean while back at the airport don't hold your BREATH..
whats happening , any ideas?
Share Trading Halt in AIA, pending a company announcement later today.
Is this bad or good?
BREAKING NEWS: Auckland International Airport's shares were placed on at trading halt at around 11.40 am.
The trading halt is believed to be because of an imminent announcement by the airport's board on the Canada Pension Plan Investment Board's planned proposal to take a sizeable minority stake in Auckland Airport.
The airport's board is understood to have been meeting about the CPPIB proposal this morning.
In mid September the CPPIB said its planned proposal would offer shareholders three options one of which would be an all cash option worth $3.70 a share.
However since then Auckland Airports shares have been trading well below that, closing at $3.08 before the trading halt.
Down to $2.90 af this announcement:
The directors of Auckland International Airport Limited (Auckland Airport) today announced that discussions with Canada Pension Plan Investment Board (CPPIB) in relation to a proposal for CPPIB to acquire a significant interest in Auckland Airport have ceased.
Can't say I'm sorry. Never saw what the Canadians were going to add to AIA, either as an airport or as an investment.
Disc: Hold AIA
Yep, it for the best, im sure there will be better offers sooner or later
Yeah, its an interesting reaction re the SP. IFT/NZ Superfund and others will carry on accumulating regardless.
AIA is a great asset.