Auckland International Airport Limited (AIA)

[tycoon_1]

they could always fax the forms through. There is probably no point buying now as people buying won't get the premium should take over succeed. Interesting day tomorrow coming up.

[Toddy]

I don't think that the Canadians need any more mum and dads to sign up. At close of business today they had just over 38% acceptance.

[BRICKS]

Stock getting absolutely belted the last few minutes ... market is saying that the Canadian offer is a 0% chance of success , amazing that not more people want $3.59 rather than $2.19 !!!

AIA -9 at 219 ....

YOU are NOT getting $3.59 for all only some and bits of PAPER worth ???

[COLIN]

I don't think that the Canadians need any more mum and dads to sign up. At close of business today they had just over 38% acceptance.

I noted from tonight's news that they had hit 38% and so are almost there. However, it still remains to be seen whether they can get over the 50% approval vote; perhaps the Auckland City Council meeting tonight might lend their weight to the "pros" - that's if that crazy protester is bundled out.

[Toddy]

I noted from tonight's news that they had hit 38% and so are almost there. However, it still remains to be seen whether they can get over the 50% approval vote; perhaps the Auckland City Council meeting tonight might lend their weight to the "pros" - that's if that crazy protester is bundled out.

The protester may not be crazy. They may be Mr average who has had a guts full of central and local govt politics, high interest rates, high fx rates, and dodgy investment advice. They may be going through the FTX legal battle, licking wounds of Bridgecorp debentures flushed down the toilet and simply looking to cash up their AIA stake to pay for outstanding bills on their BlueChip property investment in order to keep their marriage from heading the same way.

But then again, they may be someone who does not invest and has nothing to gain from this exercise except giving the big two fingers to those nasty foreigners.

[ratkin]

Auckland council has rejected the bid , however it wont matter as the canadians now have 38% and are sure to go over 40....just.

The fact they will only just get over 40% is very good news for us shareholders who accepted the offer , it means almost 100% of our shares will be sold at 3.60 provided clarke dosent do the dirty

[Tanger]

They still need to get over 50% of the voting shares to approve the plan as well though. With Auckland and Manukau City Councils both rejecting both votes, I would think this is going to be the more close run thing. I'll be watching eargerly tomorrow morning to see what the split is, and then trying to work out whether the council's votes are in there or not. The last notice filed showed that only just over 20% of the votes had been received, with a 32/68 split in favour of them acquiring the 40%. Lets just hope that people have not voted in line with the Boards recommendation and voted yes to sell, but no to the offer proceeding. The councils hold 12% and 10%, so this split will change considerably with them included as No's. It will be dependent on how many of the votes to sell today also voted in favour of them getting 40%.

[COLIN]

They still need to get over 50% of the voting shares to approve the plan as well though. With Auckland and Manukau City Councils both rejecting both votes, I would think this is going to be the more close run thing. I'll be watching eargerly tomorrow morning to see what the split is, and then trying to work out whether the council's votes are in there or not. The last notice filed showed that only just over 20% of the votes had been received, with a 32/68 split in favour of them acquiring the 40%. Lets just hope that people have not voted in line with the Boards recommendation and voted yes to sell, but no to the offer proceeding. The councils hold 12% and 10%, so this split will change considerably with them included as No's. It will be dependent on how many of the votes to sell today also voted in favour of them getting 40%.

The vote, of course, can be exercised by all holders as at December, i.e. its not just those who respond to the Acceptance Forms. If all major non-acceptors vote "No" then I fear that the offer cannot succeed. A great pity.

[CJ]

Looks like it will open up about 9c?

Interestingly it looks like the Canadians filed an announcement from February rather than the position at the end of yesterday?

Confused - I am?
[edit: they have ammended the notice now. It doesn't say however how many have approved the proposal - that is the important number as it looks like it will get over the 40% acceptances.]

[macduffy]

Of course, the approval % won't be known until the singing's over.
Unlike the acceptance figure which only has to " reach" its target, the approval figure can be negated at any stage by votes against.