SKT - Sky Network Television

[mistaTea]

Analysts weighing in.

Think it might just be a PE outfit given sky's low PE ratio.

https://www.nzherald.co.nz/business/analysts-speculate-on-sky-tvs-potential-acquirer-price-premium/SMT2BNTUGZCBZERHAZ5NEKJJDM/

[Mysterion]

Analysts weighing in.

Think it might just be a PE outfit given sky's low PE ratio.

https://www.nzherald.co.nz/business/analysts-speculate-on-sky-tvs-potential-acquirer-price-premium/SMT2BNTUGZCBZERHAZ5NEKJJDM/

"The pair said while they had no information about the potential buyer"

[mistaTea]

https://www.nzherald.co.nz/business/sky-tv-mystery-bidder-two-names-in-the-frame/S2YUAOQGWJGJVOOYEVRBVECX3M/

The Aussies reckon it is Atairos (PE vehicle used by Comcast).

They were the ones who offered around $400M for Sky a few years back. Rejected out of hand by The Board from what I gather.

Looks like they are back with a similar offer.

[Mysterion]

https://businessdesk.co.nz/article/markets/why-is-skys-share-price-so-low

[entrep]

Why is Sky's share price so low?

Because the inept board will no doubt find a way to cock whatever this up.

[Cod]

Well, this turned out to be prescient.

Because the inept board will no doubt find a way to cock whatever this up. - Entrep

(Disc sold out at 2.86.)

[Mysterion]

Well, this turned out to be prescient.

Because the inept board will no doubt find a way to cock whatever this up. - Entrep

(Disc sold out at 2.86.)

Of course these muppets would f*** another takeover attempt.

[LoungeLizard]

It really depends what the offer was that the Board rejected. Will we ever know - probably not - but as a shareholder I feel this should be disclosed by the Board. They may well have been right to terminate negotiations, but right now people just fall back on their default antipathy towards SKY.
If the offer was around $3 a share I would not be interested myself - SKT is a profitable company with no debt and cash in the bank, and unlike some I believe it has steered itself off the rocks and has a good future. It's worth at least $3.50 imo.
But hi-ho, the share buyback will recommence and I expect the SP to rise accordingly. Just another day at the office..

[Hectorplains]

...as a shareholder I feel this should be disclosed by the Board.

What?!  Treat shareholders like they actually own the company or something!?

The 'trust us we know what we're doing' angle from a board where the company's share price meanders and the board has a strong record of value destruction is...interesting.

[LoungeLizard]

What?!  Treat shareholders like they actually own the company or something!?

The 'trust us we know what we're doing' angle from a board where the company's share price meanders and the board has a strong record of value destruction is...interesting.

Well, to be fair, the real value destruction was done before this Board took charge. Since then, those who bought in at 16c pre-consolidation ($1.60) are laughing all the way to the bank, no matter what.

[Mysterion]

Decline a $3.70 offer

[LoungeLizard]

Evidence?

[entrep]

www.theaustralian.com.au apparently, but paywalled

[LoungeLizard]

Well, if true - and I'm not certain it is - the Board might have some explaining to do in not putting it to shareholders. However SKT have said that institutional investors were on board with them terminating discussions so even if it was $3.70 it might have got rejected by majority vote. Personally I would have jumped at $3.70!

[entrep]

What a fail