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:

July 9th Morning Report
July 8th Morning Report
Half-way predictions scorecard
SKT - Sky appoints new Chief Financial Officer
July 7th Morning Report
CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report