SkyCity rejects takeover offers from US fund Oaktree and another bidder
Casino operator SkyCity rejected two takeover proposals in May, saying they undervalued the company and included unacceptable conditions.
SkyCity Entertainment Group received two unsolicited takeover offers in May but rejected both. One came from US-based special situations fund Oaktree Capital Management at NZ$0.70 per share. The casino operator said neither bid reflected its underlying value and both contained problematic conditions.
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NZ Herald
SkyCity Entertainment Group considered, then rejected, a takeover from Oaktree in May
Casino company rejected takeover proposal from US fund.
BusinessDesk
SkyCity knocked back two takeover bids, including Oaktree
SkyCity Entertainment Group said it received two takeover offers in May but rebuffed both because they did not reflect the company's underlying value and included “problematic conditions”. According to the casino operator, it received a confidential, unsolicited, conditional, non-binding indicative…