Sky bid...

[OLTB]

Ooooooo

http://www.bbc.co.uk/news/business-38267199

OLTB

[OLTB]

Should probably say, 'I hold'

share price up 28% at mo.

OLTB

[nk104]

Well that will make my Work Do feel just a bit sweeter.

[Mentallurgist]

Wow - I've only held these for three weeks !!

[kempiejon]

Well if that were to come to pass and I lose another 4% yielder, on the upside I added to Sky in July having not really looked at them for 5 years other than to take the income. Still the deal is not done is it.

[thebarns]

One of the few usual suspect HYP shares that I still had to get.

I too have my office do tonight, and Sky and IGG have sent me into meltdown for this evening.

I am going to do it.

I will have a very loud AAAAAAAAAAAAAAAAARRRRRRRRGGGGGGHHHHHHHH about 11.30 pm.

Well done to others though !

[OLTB]

Still the deal is not done is it.

Having looked a bit at the history, I can see why kempiejon has stated the above:

In June 2010 News Corp offered 700p that was rejected as seen by Sky directors as undervaluing, then abandoned a year or so later in wake of fallout from phone hacking etc.

In July 2014 BSkyB paid almost £5bn to take over RM's pay tv companies in Germany and Italy.

Apparently there are still, 'certain material offer terms (that) remain under discussion'

OLTB.

[Instep]

share price up 28% at mo.

OLTB

Just updated my (modified) HYPTUSS for the end of day. SKY showed as down 87%.

Typically, the price has ended up about £10.00 which shows on Yahoo as 100p, while it's 1,000p on DL. This seems to happen quite frequently on Yahoo on any share that moves around 1000p.

Instep

[toofast2live]

I think the bid is about £10.70 so the market thinks there's a fair chance of failure, at the closing price of nearer £10.35.

It almost makes up for Capita, which I still hold despite my oft repeated urging to sell at the first profit warning because the b*ggers always have another one up their sleeves. This time I was convinced by Neil Woodford who confidently spouted that his meetings with management "reassured him".

Thanks, Neil.

[Dochas]

I've held sky for a while and been content to take the divi while the price has gone up and down. I am a sky customer too and sometimes have thought about changing providers but always held back because of the stock I held, thinking in a small way I was keeping the EPS up. If the deal goes through I might feel easier about switching! Oh but wait, where else can I watch test match cricket.......
Dochas

[Deev8]

Wow - I've only held these for three weeks !!

Is that a "Wow, that's great news", or "Wow, that's bad news. I've only just bought these shares and they might be out of my portfolio again soon"?

Dave

[Lootman]

they might be out of my portfolio again soon"?

It's a good thing, at least relative to having the same portfolio without SKY. Take the cash and use it to buy more income.

[Mentallurgist]

For me - its Wow its good news. I'm sure I'll be able to find a home for the cash in another HYP share.

With only being invested for ~ 3weeks, I've not had any time to develop any particular fondness for the share so I'll take the cash and move on.

[Mentallurgist]

(that's if it happens of course)

[tjh290633]

Wow - I've only held these for three weeks !!

I bought Sky back in 1997 and the very next day Sam Chisholm resigned and the price fell by 30%-ish, from £6 to £4.

Less of a "Wow", more of an "Oh, S**t".

Then they got up to £19 and I decided to sell one third at about £16 as they were falling back. Should have sold 2/3rds.

TJH

[toofast2live]

And that TJH, shows what an outrage this bid is.

Just last year the shares were £11.40+

I cannot believe the non Murdoch holders will sell for less than £11. The Dirty Digger holds 39% of the shares, so how tough are the remaining 61%? My guess is that this will not be over until the Dirty Digger offers in the region of eleven quid.

[PinkDalek]

£10.75 it is then.

http://www.bbc.co.uk/news/business-38326530

In more detail:

http://www.londonstockexchange.com/exch ... 68654.html

Firm offer: Yes.

Done deal: No.

Short extract regarding dividends:

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.

· Sky will not pay any dividends in 2017.

[Lootman]

Firm offer: Yes.

Done deal: No.

Share price is currently a quid below the "agreed" offer price so the market is expressing some doubt.

[Clitheroekid]

So the Sky SP is around £9.80 and the agreed bid price is £10.75. On the face of it this looks like a more or less guaranteed way of getting a rerun of around 9% p.a.

What's the catch?

[NeilW]

It's all down to whether the secretary of state will refer the bid.

Once that clears the price will leap up.

The lack of dividends next year is a pain though. It could take months to get over the regulatory hurdles.