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Re: Sky - Response to Comcast timetable extension
Posted: September 22nd, 2018, 10:18 pm
by Alaric
absolutezero wrote:If so, sell or wait for nature to take its course?
Unless you need the proceeds immediately, I'd suggest waiting for your Broker to send the buy out form. You get the proceeds without having to pay dealing commission. Monday's price might be marginally below £ 17.28 if there's any residual uncertainty.
I don't think there's going to be any alternative share offer or CGT mitigation scheme, but you never know. There's possibly also a dividend entitlement somewhere in the mix.
Re: Sky - Response to Comcast timetable extension
Posted: September 23rd, 2018, 1:02 pm
by kempiejon
I'll let the process run its course, so I expect it'll be a while before I have to deal with the reinvesting question but I know I should be able to get around a 5% yield. I will be pleased to have the money back working harder for my income goal. The capital lift, and stall in high dividend yield means I'll get a boost to next year's income.
Re: Sky - Response to Comcast timetable extension
Posted: September 23rd, 2018, 5:57 pm
by absolutezero
Alaric wrote:absolutezero wrote:If so, sell or wait for nature to take its course?
Unless you need the proceeds immediately, I'd suggest waiting for your Broker to send the buy out form. You get the proceeds without having to pay dealing commission. Monday's price might be marginally below £ 17.28 if there's any residual uncertainty.
I don't think there's going to be any alternative share offer or CGT mitigation scheme, but you never know. There's possibly also a dividend entitlement somewhere in the mix.
My default position was wait and see, so I will probably do this.
Re: Sky - Response to Comcast timetable extension
Posted: September 24th, 2018, 7:05 am
by idpickering
Accept the Recommended Comcast Offer Immediately As the price of the final Comcast Offer is materially superior, it is in the best interests of all Sky shareholders to accept the Comcast Offer. Accordingly, the Independent Committee unanimously recommends that Sky shareholders accept the Comcast Offer, and in order to ensure the successful closing of the Comcast Offer, urges shareholders to accept immediately.
https://www.investegate.co.uk/sky-plc-- ... 00096270B/
Re: Sky - Response to Comcast timetable extension
Posted: September 24th, 2018, 9:01 am
by Alaric
idpickering wrote:Accept the Recommended Comcast Offer Immediately
Or as soon as the Broker gets the relevant form on-line.
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 9:17 am
by pyad
SKY bid goes mandatory after Comcast acquires 30%:
https://www.investegate.co.uk/comcast-c ... 18198342B/Finally, SKY holders should now accept the bid formally and no longer "do nothing" which has been my advice until now since the first bid launched back in Dec 16. Pity about those who thought they could beat Market Trading by selling SKY in the market for a much lower price than the exit figure of 1,728p.
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 10:16 am
by robbelg
Anybody know when we can expect to get the cash?
Best guess?
Rob
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 11:04 am
by Bouleversee
OTOH the s.p. has been up to 131.50 this a.m.
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 1:35 pm
by Raptor
Bouleversee wrote:OTOH the s.p. has been up to 131.50 this a.m.
Are you sure as when I checked it was:-
Day's range 1,724.00 - 1,731.18
Raptor.
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 1:55 pm
by Bouleversee
Yes, you are right. Apart from leaving out the 7 typo, I now don't know where I got the 50 from. Probably comes from taking a sleeping pill in the middle of the night and generally going ga-ga.
Nevertheless, I was surprised to see it had been over 1728. I think I shall just go ahead and accept so I can forget about it.
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 2:00 pm
by Alaric
Bouleversee wrote:Nevertheless, I was surprised to see it had been over 1728.
Perhaps Comcast or their agents were prepared to pay a small premium to reach the acceptance target that makes the bid binding.
Re: Sky - Response to Comcast timetable extension
Posted: September 25th, 2018, 2:27 pm
by pyad
]
Alaric wrote:
Perhaps Comcast or their agents were prepared to pay a small premium to reach the acceptance target that makes the bid binding.
Nope, wrong again. From the doc:
...Comcast Bidco will continue to acquire Sky Shares in the market from eligible shareholders outside the United States at up to and including GBP17.28 ...
Tiny differences between the agreed SKY bid price and the market price mean nothing. That's just the BO spread and minor effects of the time value of the money. Despite appearances I doubt whether any small investor could have actually sold at more than 1,728p and even if they could have gotten a minuscule amount more, the selling costs would have to be deducted.
Arguing over a penny or two here or there is all a red herring that does not negate my earlier expressed view that earlier tinkerers got it seriously wrong. But I don't expect that this will cure them of the ailment.
Re: Sky - Response to Comcast timetable extension
Posted: October 1st, 2018, 1:29 pm
by John
I have a certificate for British Sky Broadcasting Group plc, and it's for the right amount of Sky shares.
Is it valid for the Comcast offer?
Thanks.
Re: Sky - Response to Comcast timetable extension
Posted: October 1st, 2018, 2:29 pm
by Alaric
John wrote:Is it valid for the Comcast offer?
As far as I recall it was just a change of name. As the offer is now unconditional, perhaps they won't want the old certificate back anyway. You'll have to see what it says if they send you paperwork to fill in to collect the offer.
Re: Sky - Response to Comcast timetable extension
Posted: October 1st, 2018, 4:34 pm
by Bouleversee
I'm sure it will be fine, i.e. still valid.
Re: Sky - Response to Comcast timetable extension
Posted: October 1st, 2018, 5:02 pm
by John
Thanks, the phone queue at Link is horrible.
I've just posted the form and BSB certificate; the fat book specifies that certificates, if held, should be returned. I just wanted to ensure that I hadn't mislaid a newer version.