SkyCity Rejects Two Takeover Proposals After Review
SkyCity Entertainment Group has rejected two unsolicited takeover proposals received in May, including a NZ$0.70-per-share bid from a special situations fund managed by Oaktree Capital Management. The New Zealand-headquartered casino operator disclosed the approaches on August 25 following media reports about a possible takeover. A second, unnamed bidder proposed an implied price of NZ$0.75 per share. Based on SkyCity’s 1,103,055,047 ordinary shares, the proposals valued the company at approximately NZ$772 million and NZ$827 million respectively. Both remained confidential, conditional and […] The post SkyCity Rejects Two Takeover Proposals After Review appeared first on World Casino News.
SkyCity Entertainment Group has rejected two unsolicited takeover proposals received in May, including a NZ$0.70-per-share bid from a special situations fund managed by Oaktree Capital Management. The New Zealand-headquartered casino operator disclosed the approaches on August 25 following media reports about a possible takeover. A second, unnamed bidder proposed an implied price of NZ$0.75 per share. Based on SkyCity’s 1,103,055,047 ordinary shares, the proposals valued the company at approximately NZ$772 million and NZ$827 million respectively. Both remained confidential, conditional and […]
The post SkyCity Rejects Two Takeover Proposals After Review appeared first on World Casino News.
