DAZN, for example, use UBS for investment banking.
Given I contacted a key person at DAZN to put Sky TV on their radar... it is not entirely lunatic to think they might seize the opportunity, with UBS facilitating a current share purchase?
Buy 19.99% of the company for 30-ish cents. Then put in a realistic offer for the remaining 80.01%. The offer for the rest would need to exceed $1.20 per share I think to at least get both RugbyPass and NZ Rugby on board (they own around 12% of the shares outstanding). With that strategy they could probably end up buying the entire company for less than NZ$450M. An absolute steal given the quantity and value of rights held from 2021...as well as a subsciber base north of 900,000.
It's what I would do if I was DAZN. I rememver Vero did a similar thing with Tower a few years back. Ultimately their takeover failed...but that was because the regulator blocked it. It was a great strategy at the time. Fairfax were effectively locked out once Vero took ownership of 19.99% of the shares. In their case, even though they ultimately could not buy Tower...they did block a large financial institution from entering the market.
So let's see what (if anything) happens here.
It can be fun to speculate a little I must admit - so long as one is aware they they are wearing their 'speculator hat' as opposed to their 'investor hat' !
SKT Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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