Consider 1: Read between the lines on company announcements and...

Consider 1: Read between the lines on company announcements and public media reports. Interested parties have made enquiries - and doing their preparation. When a offer is made, and a competing offer is made, this isn't spontaneous - the prep was already done, and there is more than one looking.

Consider 2: there is a excess of private equity cash looking for a home, preferring secure asset backed investments. SGR can be turned around. Annual revenue is good, could be better and costs are high. Could he lower.

Consider 3: some of the biggest investment plays out there are not actually the facades of the business but are actually the property under the business. The Star has premium property assets, that are under valued.

Taking a narrow view, the assets could be sold off or repurposed. A corporate raider could do a Leveraged buy out, sell all assets, and walk away laughing to the bank.

Taking a broarder view, the Sydney assets could be put to better use, whether increasing revenue or reducing cost. For example a cost reduction coukd be for the casino licence to be mothballed and sydney assets repurposed as a nsw clubs entity, NRL/AFL/ARU club or similar, with far less regulation, and still run pokies, the hotel, entertainment and hospitality.

Consider 4: There could be a split of NSW and QLD into two or more companies. QLD seems less hostile and more profitsble. NSW cut away.

These considerations are not exhaustive.