Auckland International Airport Limited (AIA)

[minimoke]

It probably refers to the "Credible Party" mentioned in 16.1 of the TCS which is on the internet at http://www.auckland-airport.co.nz/PDF/Auckland_Airport_TCS.pdf

[Deev8]

LOL... What is a confidentiality deed??? If it is so confidential, why have they released it to the media? Sounds like alot of BS!

Signing a confidentiality agreement is relatively normal practice under circumstances such as this. Like any company Auckland Airport won't give just anyone access to "their books" to perform due dilligence. Having established that another company could put a serious deal on the table, Auckland Airport may give them access on the condition that they sign an agreement to treat all information that they receive as confidential.

Informing the market that they have signed a confidentiality agreement with someone else is an example of good disclosure.

Auckland Airport agreeing not to name the third party at this relatively early stage isn't that unusual either.

[troyvdh]

g
cddfdsfsd

[ratkin]

Informing the market that they have signed a confidentiality agreement with someone else is an example of good disclosure.

Auckland Airport agreeing not to name the third party at this relatively early stage isn't that unusual either.

But what is to prevent them just making it up to put shareholders off accepting the canadian offer?

[macduffy]

Now, that would be a very risky tactic!

I can't see an entire board agreeing to put their reputations on the line in that way.

[Balance]

Make no mistake - the Canadians will get their 40% of AIA.

Offshore investors according to Goldman Sach owns around 35% of AIA. There's big volume going through at under $3.00 so why would they not accept $3.65. Plus they will not get too badly scaled back as the Board has been foolishly asking other shareholders not to accept. I will be accepting for my shares and hope others will hear the utterances of the board and not accept.

[Lawso]

With markets everywhere on the slide, and a firm offer on the table of 365 for AIA, why should I not sell up everything else and put the entire proceeds into AIA at the current price of around 270? OK, so I might get scaled back but I'll make a big profit on what CPP buys and I can either hold on to what I'm left with or sell out of AIA and build a new portfolio at what will probably be lower prices come April.

[BRICKS]

With markets everywhere on the slide, and a firm offer on the table of 365 for AIA, why should I not sell up everything else and put the entire proceeds into AIA at the current price of around 270? OK, so I might get scaled back but I'll make a big profit on what CPP buys and I can either hold on to what I'm left with or sell out of AIA and build a new portfolio at what will probably be lower prices come April.

GO on and DO IT..

[Tanger]

Assuming they get 1) the requisite approval to acquire the 40% shareholding and then 2) they get the 40%. A lot of hurdles to get over before you can bank your profits Lawso.

[KS]

The $3.655 offer is made up of:
$0.20 cash;
$0.7055 new share in NZ Airport HCP Limited;
$2.75 convertible note.

Any dividends paid by AIAL will reduce the cash consideration by an equivalent amount.
Convertible notes have a coupon rate of 7.0%. Coupons are deferrable at the directors' discretion. Investors have no rights of redemption and no rights to force conversion.
What value will the market put on the convertible notes and the new shares?