Timing is everything29 Feb 2024 09:25
Just looking back at JD's involvement in SDRY... didn't quite clock that he only became CEO again in late 2019 (a few months before the pandemic) after some boardroom battles. With a new chairman in 2021, his intention seems to always have been to take SDRY private but he couldn't have done that through the pandemic or cost of living. Striking now would give him a bargain (before recovery takes effect).
I don't think that he will have any issue in getting support - the big question for me is not whether or not he will bid but how much. I think we'll hear tomorrow or Monday that he has made a bid but that this first bid was rejected. I think we'll then see other bids materialising.
After the SKY exclusive, nothing is being leaked here but remember, the sp is still sitting at almost double the sp of a month ago. Apart from some folk getting a bit too nervous, the majority have taken their positions. Unless there is a knockout bid, I don't see this ending tomorrow.