This is an old article (24 August) but I do agree, with a yield of over 6% and significant director buys we could see a bullish divergence here! I am back in!
Nice broker upgrade from Jefferies at 1200 - really? when the agreed offer price is 1075 (subject to approval mid June)
Can't see that happening but believe the bid will go through!
Merrill Lynch ups stake to over 6% holding £10m worth of stock - interesting - are these shares to retest the IPO price? What will the final dividend be for the full year?
Very interesting update this morning including profit expected to be at the high end for FY and margins returning to normal. Also update on contribution of recently opened sites and information regarding new site at Sheffield. Should be +ve for SP. It's the margins returning to normal that is particularly interesting!
"While merger rules allow Fox until Jan. 6 to make a final offer, the company is working to sew up a deal by late this week, Wednesday at the earliest, the people said."
How long is a piece of string?
A formal offer has to be made by 6th Jan and if there are no regulatory issues (most expect this not to be a problem!) then the estimates currently are for mid 2017. The cash offer is for £10.75 but the shares traded at £11.40 as early ago as February 2016. Some analysts think Sky is worth £13.50 (but most agree £10.75 is too cheap - see earlier posts) so we have an interesting few months ahead - either way Santa has come early this year!