Auckland International Airport Limited (AIA)

[Bilo]

But why would anyone want to sell one million before the offer is out?
At 2.83!!!
What form of currency is the convertible note - how liquid will it be?

[Yossarian]

'cos they don't have a lot of faith in it actually happening and/or they put a different value on the consideration offered by the Canadians.

The last one fell over remember.

[Bilo]

I see the note that shareholder approval is required for the partial takeover without having to go for the full takeover. This shouldn't require a lot of thought for the two major shareholders - they only have to abstain and the remainder will surely approve? What percentage does this vote require?

Not political problem as long as the councils don't sell - as they shouldn't. Perhaps they might like to increase their stake or push for a cash bid on behalf of the minor shareholders.....

[bermuda]

This offer is obviously a sham.

[Bilo]

This offer is obviously a sham.

Now why do you think that B?

Is it because it smells a bit like the Powerco one a couple of years ago when the New Plymouth Council threw in the towell and sold their silver to plundering Australians and the small shareholders lost out on a nice little growth oriented share market listing (got stuffed)?

Or are you like me in that cash is easier to understand?

[BRICKS]

NEVER forget it CASH is always KING..

[Deev8]

Well the offer documents arrived in the mail this morning - It will take a while to read all the material though.

[moimoi]

i see in todays paper the board intends mailing out 100 pages of material to shareholders.

Seems a shame that one can't just log onto computershare and tick a box for "ain't interested in receiving". !! Rather save a few tree's meself.

20 cents cash plus summit that has a whiff of SIV / CDO about it.

thanks, but no thanks.

[Zaphod]

I notice in the IFT update that the NZX have relaxed their rules regarding posting hard-copies of annual/interim reports. Personally, I'm quite happy download PDF copies.

Will be interested in reading the documents, however I cannot see this takeover proceeding given the current ideological bent against foreign ownership of key NZ assets - even if sometimes it is based purely on emotion.

[bermuda]

Now why do you think that B?

Is it because it smells a bit like the Powerco one a couple of years ago when the New Plymouth Council threw in the towell and sold their silver to plundering Australians and the small shareholders lost out on a nice little growth oriented share market listing (got stuffed)?

Or are you like me in that cash is easier to understand?

Hi Bilo,
Cash is a lot easier to understand. 20 cents is pathetic.