Sydney Airport’s board would ‘starve’ in real estate

A week out from the takeover vote, many investors have taken the cash while others reckon the board still sold the company too cheap. “If the board members are considering a future career in real estate they would starve,” one investor said.

24/01/2022 5:12:00 AM

A week out from the takeover vote, many investors have taken the cash while others reckon the board still sold the company too cheap. “If the board members are considering a future career in real estate they would starve,” one investor said.

A week out from the takeover vote, many investors have taken the cash while others reckon the board still sold the company too cheap. “If the board members are considering a future career in real estate they would starve,” one long-time investor said.

The question for investors who have not yet made up their minds is how long would it take for the airport’s stock to recover to its pre-pandemic trading levels if they reject the cash on offer?in July 2021 during some of the worst days of the pandemic, when much of Australia was locked down and planes were grounded.

to protest the takeover, arguing that the company’s share price was “artificially depressed” when it received the takeover approach and that “travel will return and the airport will thrive once more”.While the board rejected two initial offers from the consortium, priced at $8.25 per share and $8.45 per share, it took only two months to announce it was likely to recommend a third offer of $8.75 per share.

Read more: Financial Review »

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