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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sky | SKY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1,727.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,727.50 |
| Top Posts |
|---|
Posted at 05/10/2018 18:52 by bouleversee According to Interactive Investor my 350 Sky shares are worth nothing and I have lost 100% of my investment, whereas, having accepted Comcast's 1728p offer shortly after the auction, I should have almost exactly doubled my money. No cash proceeds are showing in my cash account and nothing showing in the recent transaction history. What the hell are they playing at and what do other people's accounts show at this moment, either with II or any other broker? |
Posted at 16/9/2018 19:22 by hades1 Bidding War for Sky Inches Closer 09/16/2018 | 05:15pm BSTBy Stu Woo and Ben DummettLONDON -- The victor in a very public bidding war between 21st Century Fox Inc. and Comcast Inc. for British broadcaster Sky PLC is likely to be decided in private.U.K. corporate-takeover rules could require a sealed-bid auction -- also known as a blind auction -- to conclude what might otherwise become a never-ending game of ever-sweeter bids.In such auctions, bidders submit secret offers to a third-party arbiter. They are common in all sorts of commercial transactions, including home sales, cellular-airwave auctions and bidding for professional athletes.They are very rare, however, when it comes to high-profile deal making involving a big public company. Sky is a British broadcasting giant with a stock-market value of GBP26.8 billion, or $35 billion."The scale and magnitude of the potential auction is something we haven't seen in recent history," said Tyler Tebbs, a London-based analyst at Olivetree Financial Ltd., which focuses on analyzing deals.Britain's Takeover Panel, a regulatory body that polices corporate deals, last conducted one in 2008. Wisconsin-based Manitowoc Co. beat Illinois Tool Works Inc. with a $2.7 billion bid for British food-equipment manufacturer Enodis.Rupert Murdoch's 21st Century first proposed buying the 61% of Sky that it doesn't already own in December 2016 for GBP10.75 a share. After the proposed deal hit regulatory and political hurdles, Comcast in February announced its own bid to buy all of Sky for GBP12.50 per share, or $31 billion.In July, Fox sweetened its offer to GBP14 a share -- only for Comcast to counter the same day with GBP14.75 per share, valuing Sky at $34 billion. On Friday, shares closed at GBP15.78, as investors anticipate a higher offer from one side or the other.Amid all that, Comcast and Walt Disney Co. separately traded bids to buy Fox. Disney won that contest, agreeing in July to buy a chunk of Fox assets, including its existing Sky stake, for $71 billion.That leaves a deal for Sky the only bit of unfinished business between the three media giants -- pitting Fox, backed by Disney, against Comcast. Disney and Comcast have both said they covet Sky's international footprint and its ability to sell both telecom services and original TV programming.Mr. Murdoch and his family are major shareholders in both Fox and News Corp, which publishes The Wall Street Journal.Under U.K. takeover rules, Fox and Comcast could still avoid an auction if one or both submit a "best and final" offer by Sept 22. Neither side is likely to do so, according to people familiar with each company's thinking. Either side could also still drop out of the auction.Sealed-bid auctions are more typical in lower-stakes sales. Major League Baseball used them for Japanese players. In 2006, the Boston Red Sox won the rights to Daisuke Matsuzaka with a $51 million sealed bid that beat out the New York Yankees and other rivals.Telecommunica |
Posted at 12/9/2018 17:40 by bouleversee I see Comcast have now extended their offer so presumably not intending to raise it:hxxps://www.skygroup |
Posted at 21/8/2018 11:18 by bouleversee So, I gather that Sky has advised investors to take no action re 2lCFox's £14 offer but has not yet given any advice re Comcast's £14.75 offer. We are presumably waiting for Fox to come up with a higher bid. Has anyone been following their (or their associates) buys? I find those RNS forms difficult to follow. |
Posted at 09/8/2018 09:23 by hades1 Believe this will now be decided by LSE auction after 22nd Sept.In meantime Disney will educate their investors as to the importance of securing Sky to their future. |
Posted at 01/8/2018 10:21 by bouleversee My broker has sent me details of the Comcast 14.75 offer and asked if I want to accept or not, the default option being "Do not accept", deadline l7 August. With the share price currently at getting on for 15.20, it wouldn't make any sense to accept at this moment. Better to sell in the market if you think there is a danger of the whole thing collapsing but as there is still a possibility of a higher offer, wait and see would seem to be the best option. If you accepted the Comcast offer, I think you would be committed to that even if there were subsequently a higher offer whereas if you do nothing and the Comcast offer ends up being the one the SKY board recommends, as I understand it you still get the chance to take it up within a limited time period from the board recommending it and its being approved.If I have not understood this correctly, doubtless more experienced investors will correct me. Anyway, no hurry to send anything back till all is clear. |
Posted at 05/12/2017 12:55 by loginname Just saw an interesting post on iii thanks to Hopeful Investor. Not a piece of info I’ve heard about before.Price could in theory be £11.12 based on a quick look at the chart in the 12m period before bid. :) DYOR as always... “The takeover code stipulates: When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained).” |
Posted at 17/11/2017 09:40 by loginname Found the bit about potential dividends in 2018.This means £10.75 + 0.10 in Jan + some dividends could result in SKY shareholders pulling down almost £11 once it's all over... "In addition, Sky Shareholders shall be entitled to receive any dividend declared and paid by Sky in the ordinary course in 2018 and prior to the Effective Date. The price of £10.75 per Sky Share shall be reduced to the extent that: the dividend in respect of the six months ending 31 December 2017 exceeds 13.06 pence per Sky Share; and the dividend in respect of the year ending 30 June 2018 exceeds 21.8 pence per Sky Share." From "Recommended cash offer for Sky Plc by 21st Century Fox Inc." ("sky-21cf-rule-2-7. hxxps://www.skygroup |
Posted at 17/11/2017 09:08 by loginname Great article from someone attending the CMA "expert round table"."Curiously, professional investors seem to doubt this outcome, perhaps because they have seen so many obstacles thrown in the way of the deal that they expect some as-yet-unforeseen event to derail it. Otherwise, the prospect of a guaranteed 20%+ capital gain in barely 8 months would make Sky shares at their present price seem an irresistible bargain." hxxps://www.opendemo |
Posted at 12/10/2017 12:35 by walbrock82 Looking SKY, here are some interesting thoughts.Sky PLC is under takeover propose from 21th Century Fox, a firm owned by Rupert Murdoch. It is currently under government review, and the takeover price is £10.75 per share. Current share price stands at £9.13 per share, a discount of 17.7%. Anyone playing this takeover needs to do due diligence. especially those using leverage. There is a chance the deal would get block by the government. The huge discount means investors aren't optimistic this deal gets made. Before the takeover got announced, Sky’s shares were trading around £8. A miscalculation could potentially cost investors 12%. unless Sky PLC saw improving operational performance. First quarter update Main numbers are: - 5% increase in like-for-like revenue to £3.3 billion. - 11% increase in EBITDA to £582 million. Business in Sky has been getting along and we can assume cost savings are made because sales increase is smaller than EBITDA. Rule of thumb (2% growth in sales and 10% growth in operating profit = increase in operating margin.) (10% growth in sales and 2% growth in operating profit = decrease in operating margin.) Historical Performance Without much data from Q1 trading update. Let’s look at Sky PLC over the years. Although turnover has grown exponentially, SKY has struggled to grow EPS consistently. There is a lot of debt on their balance sheet, especially after their acquisition of Sky Deutschland and Sky Italia for £7bn. However, this resulted in net borrowing spiking from £6bn to £15bn in one year. Now, it stands at £18bn, which is 23 times larger than net profit (£700m). Despite the low interest rates, SKY’s interest cover is below their historical average of 6.4 times to stand at 4.7 times. Market Valuation With only the first quarter numbers out, there’s a lot of information to measure valuation. Most brokers are putting a “hold” on the stock with price target of £10.75. One broker is super optimistic with a £13 price tag. Using 2018’s forecast, EV/EBIT is on 15 times multiple, with EBIT margin at 10.8%, below their historical average of 17%. Final Thoughts If takeover review panel blocks 21th Century Fox acquisition, then the potential downside is £8 per share. But, SKY’s performance has been up and down if you delve into the raw data. It explains why net debt to market cap. has risen from below 10% to 60%. |
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