Sky Share Discussion Threads

[stevesold] 27/9/2018 09:45

Does anyone know if i can use the original Comcast offer form to sell my Sky shares?

[bouleversee] 26/9/2018 17:30

I see the price was 1728.50 at one point today. Presumably it won't get there again now.

[nk104] 26/9/2018 17:11

Murdoch has thrown in the towel* and accepted the Comcast offer of £17.28 a share.


* Or banked a load of cash depending on how you see it

[nerdlinger] 25/9/2018 08:38

I think it's actually 90% needed to become unconditional, over 50% for control. Up to 29.1% so far:



EDIT: sorry the rules are different now, Rog was correct about unconditional over 50%. Odd procedure for those shareholders who don't accept but they appear to get a second chance at the latest bid price after the deal is done. So I'm still holding for now.

[rogthepodge] 24/9/2018 15:12

looks like Comcast needs acceptances for 50% of the shares for the offer to become unconditional. As 61% are not held by 20CFox, ought to be doable. But is it worth holding out to close to closing date, just in case another bidder comes from nowhere?

[lucy123] 24/9/2018 14:47

I have just contacted the registrars, I accepted the £14.75p offer back in August, sent the acceptance form and share certificate which they confirmed to have received. They have confirmed that anybody who accepted this offer will get paid the higher offer and no additional paperwork will be needed to complete. Payment should be around the 3rd week of October.

[rogthepodge] 24/9/2018 14:18

Comcast might not get over 61%! so can it go unconditional?

[nerdlinger] 24/9/2018 13:54

I think all the remaining shares will be compulsory purchased if they get 90% but they would need Fox's 39% to get there. Comcast might need to increase their bid if they want 100%, they might even need to increase to get over 50%.

[rogthepodge] 24/9/2018 13:46

Once a certain level of shares are offered to Comcast I guess it will go unconditional. But until then, is there a remote possibility of a yet unknown third party making an even bigger bid?

[nerdlinger] 24/9/2018 13:39

I'd prefer it all to fall through. I want to hold shares in Sky. Everyone has a price though but mine would probably be twenty-something, I don't know, this price is too low. AFAIK we haven't heard from Roop yet.

[bouleversee] 24/9/2018 11:59

I've just rec'd my corporate action notification from ii and it says the deadline for acceptances of the £17.28 is Oct. 2. Interestingly, the default option is still "don't accept" either offer. Comcast and Fox can't increase their offer though I suppose there is nothing to prevent their buying in the market. How likely is it that someone else is going to come along with a bigger one when Sky have recommended accepting Comcast's and time is now short? Am inclined to accept Comcast's offer myself though I don't know when we'd get the money.

[bouleversee] 24/9/2018 11:40

Why? Any reason not to immediately accept the £17.28 offer as it can't be increased?

[nerdlinger] 24/9/2018 09:40

I'm holding.

[failedqs] 24/9/2018 08:32

I've sold my shares in the market, 1721.5p. Nice profit :-)

[sunbrew] 23/9/2018 21:00

Not sure, i think that you need to read the fine print of the document (which most do not do).
Takeover rules can be difficult to understand.
This has been a very unusual outcome.
Waiting for tomorrow to see what the market does.
Good luck.

[peterson7] 23/9/2018 20:20

I sent the certificates and agreed to the Comcast offer in August for 400 of my shares. However i did not receive any payment and Comcast simply deferred the deadline whilst things developed. What I wonder is will Comcast simply pay the £14.25 offer price or are they obliged to pay the £17.28 as they never paid for the shares back in August.

[panic investor] 23/9/2018 20:02

Just popped in to say congratulations to all holders - nice rise for you tomorrow !

[sunbrew] 23/9/2018 19:57

I read somewhere that Comcast are going to buy in the market.
What is that likely to do for the market share price ?
Small premium ?
Does the market continue to operate.? I assume i can still sell tomorrow at the stock market.

[bouleversee] 23/9/2018 12:27

If a company is taken over, once the offer becomes unconditional and its shares are going to be cancelled, I don't think you are required to return the certificates. I have several in my file on which I have written "taken over on such and such a date" (not sure why I keep them) and I can assure you I will have had the money. I suggest you wait for a further communication before trying to replace any lost shares or you could try ringing the registrars or company secretary to clarify.

[stevesold] 23/9/2018 12:03

Yes I saw you could pay for them, as it's all held electronically I thought they may not be bothered with paper. So if I don't replace them what will happen to my missing certificates value wise, any ideas?

[gm4lru] 23/9/2018 11:34

As I understood it, that was the case on the acceptance form, but I stand corrected.

BTW, I had a few missing share certificates and contacted Equiniti to get copies.
They weren't cheap!

[stevesold] 23/9/2018 11:25

Is it a MUST to return paper shares?
As i have already said I cannot find my 2017 script certificates.

[gm4lru] 23/9/2018 10:42

At the beginning of August I accepted the Comcast offer and sent off my share certificates to the address given on the acceptance form using the Royal Mail Special Delivery Service. They were delivered and signed for.

I have checked the status of my Sky shares on Equiniti and have found that I still hold the same number of shares!
I wonder if anyone else who took up the earlier Comcast offer has received the proceeds of the sale?

[ken tennis] 23/9/2018 05:26

Auction result Comcast the winner @£17.28 bid
Nice little rise on opening.
Well done Mrs B.