Ann: Bingo Market Update and FY19 Outlook, page-197

some ppl are living in oblivion
sgh spent a billion odd dollars mostly debt funded to purchase a complete dud of a business in the UK
the acquisition was nearly completely written down months after purchase
they bought a business that within a short period laws regarding small claims were changed which represented the majority of business the quindell had
that absolutely crippled sgh
BIN is after DIDA which is a proven business
either way the outcome here is only a positive for BIN
the MC of BIN will be just short of equivalent to DIDA’s valuations
this is buy one get one free sale
BIN is cashed up
agree today’s sell off is possibly one of the biggest over reactions ever seen, it can only be put down to the uncertainty with the acquisition
in all, the announcement today is a setback, but not a $600,000,000 set back
one thing I’m still trying to get my brain about is that in the acquisition offer, part of the offering was through the issuing of 200mil worth of shares at the offer price at the completion of the acquisition. From my understanding if the ACCC can gives this the go ahead, BIN will save $100mil on the acquisition. Perhaps someone with a bigger brain than me could understand what this means