Offering 22 cents/share for sky is like offering 900k for a four bedroom house in the grammar zone. Who would say yes to that...
Printable View
If IFT were smart they would buy on market up to 19.99%. The threshold before a hostile takeover is triggered. And then launch a formal takeover from there.
Vero did that a few years back with Tower Insurance. After they hit 19.99% they launched a takeover bid of $1.30 per share (later raised to $1.40)
Ultimately the comcom blocked Vero from buying tower however it was effective in blocking Canadian conglomerate Fairfax from buying the company. The last thing vero wanted was a deep pocketed overseas company entering the NZ insurance market.
Now that Spark does sport streaming, could Comcom block IFT taking over SKT? Hypothetically speaking.
So last September Brookfield buys 61.2% of Oaktree Capital
https://ir.oaktreecapital.com/news-releases/news-release-details/brookfield-asset-management-completes-acquisition-612-oaktree
Oaktree Capital is a major owner of Mediaworks.
Brookfield owns 51% of Vodafone.
Infratil owns 49% of Vodafone and is now doing a $300m placement for potential acquisitions.
Sky does a heavily discounted share placement.
mmm. No, all these events can't be related. I must be crazy!