The take over is likely to go ahead unless if something with consumer watchdog or some other bureaucracy thing dont work out. They dont make these bids lightly, a lot of money goes into research and valuation.
The reason for the selling is likely people that have bought last year and are happy to cash out now than to wait for this dumb deal to go ahead as current SP is not far off it.
The reason why more people arnt buying / SP isnt going higher is that this deal has now created a ceiling for the SP, would you buy a stock if you knew you had to sell it in a few months for the same price or only slightly higher?
I would say CEO and board should be sacked for the way they ran this thing, if memory serves me well, they bought big few months ago knowing the deal was coming and they just danced around the deal a bit before accepting it and are now looking forward to a nice retirement.
I would say the board of Sydney Airport has some tough questions to answer.
SYD Price at posting:
$8.19 Sentiment: Buy Disclosure: Held
