Sky City says bah humbug

The bid is worth only $14 million and was welcomed as a move that would tidy up Sky Entertainment's empire and help Sky Leisure to fund its growth.

Analysts panned as too low a bid by Sky City Leisure's majority shareholder, Sky City Entertainment, to mop up the shares and notes it doesn't already own.

Sky Entertainment is offering 82c a share ­ 22% below the pre-bid market price ­ and $1.60 a convertible note to take its 74.4% holding to 100%.

Sky Leisure's independent directors gave the bid an immediate thumbs up.

But the bidder's stinginess could be the cause of its own undoing.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

MCY - Mercury opens $220m geothermal expansion
PYS - PaySauce undertakes Minimum Holding buyback
March 17th Morning Report
Meridian Energy monthly operating report for February 2026
MCY - Mercury considers Green Bond offer
March 16th Morning Report
Metro Performance Glass FY26 Market Update
Devon Funds Morning Note - 13 March 2026
Devon Funds Morning Note - 12 March 2026
TCM - Financial Model