Talking about a market or being able to say “I was on X road” does not a good show make. Good gear wins every time
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Ciaran’s crew playing fast and loose with the ASX once again (the last time was a slap of the wrist for leaking to the AFR market-sensitive information on KJ’s $200m deal before disclosing to the ASX)… serious questions to be asked about the C suite and board getting the basics right and fulfilling their fiduciary duties.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02812422-2A1526057
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ACM has further increased its stake on SCA to 14.42%.
Source: ASX release
Also, Allan Gray has ceased to be a substantial holder for SCA.
Source: ASX release
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Sounds like we might see movement on a SCA/ACM tie-up next week
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If this tie-up goes ahead, it’ll be interesting to see what ARN’s next move is…they made the big play for SCA for a reason, if it isn’t going to happen anytime soon what is their roadmap (involving sca or otherwise).
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No surprises. Little to nothing of value for SCA.
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Seven was close to acquiring both ARN and SCA according to this article, but it was torpedoed:
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It’s back on.
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I’ll believe it when I see it.
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Thanks for the intel… Still, this all seemed so sure last time. So I’m not convinced.
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I would have said the same but since Cat was interested in SCA it seems to make sense for them to combine.
There was talk a few weeks ago that ARN were not going to walk away too easily.
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I agree. Offloading regional TV to Paramount would probably come first before any takeover offer is accepted. Unless the offer is too good to refuse.
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Will this bid essentially follow a similar structure to ARN’s previous attempts, essentially another effort to create a ‘New SCA’ but with the addition of ACM’s print assets?
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Latest report suggests any SCA deal is still a way off yet
A new report suggests any deal to buy out and potentially split up SCA won’t get across the line for months yet.
According to The Australian’s Business Editor Cameron England, sources close to the talks say the company’s crowded share register, regulatory issues and the divergent desires of various stakeholders make it akin to unscrambling an egg.
Source: https://radioinfo.com.au/news/latest-report-suggests-any-sca-deal-is-still-a-way-off-yet/
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Yeah, obviously.
IF this deal ever comes off, it’ll take a LOT more tweaking & changing before moving forward.
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Samuel Terry Asset Management now ARN’s biggest shareholder with a 16% ownership.
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@Shrubbery does the AFR yarn elude to content of Kyle etc?
Will the activist investment firm want an improvement in standards from the 106.5 Sydney breakfast show?
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No, it doesn’t
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Samuel Terry Asset Management bought the shares from Allan Gray. Allan Gray’s chief investment officer Simon Mawhinney told The Australian that his company sold the entire shareholdings as ARN had failed to deliver decent investment returns.
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