Tuesday, October 16, 2007

Sky City Entertainment Group Ltd: Opposition to Takeover

As you may or may not know, Sky City Entertainment Group [SKC.NZ] is under a possible takeover offer.

Much has been written about the possibility of this happening over the last few weeks including a reasonable bit by myself.

You may also know that I don't want to part with my shares, I am a long-term holder and the possibility of a sale doesn't excite me as it appears to have excited some.

I also believe a possible bidder will try and grab the company for a bargain basement price, the "above 6 bucks at share" price has been mentioned many times by a multitude of market commentators.

I personally wouldn't be interested in such a valuation as long term it is worth much more than that.

It is a virtual monopoly wherever it operates and a substantial premium above 6 bucks needs to be paid to take control.

I would ask any Sky City Shareholders to contact me, Darren Rickard at shareinvestornz@gmail.com if they are interested in getting a group together to oppose any definite sale/and or stand firm for a better offer.

Would be grateful for any feedback.

Disclosure: I own SKC shares in the Share Investor Portfolio

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The Intelligent Investor: The Definitive Book on Value Investing. A      Book of Practical Counsel (Revised Edition)
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