Sumary of Sydney Airport (ASX:SYD) investors urged to speak up or forever hold their peace:
- As the takeover of Sydney Airport (ASX: SYD) draws closer, investors of Australia’s largest airport operator are being prompted to speak up or likely forever hold their peace.
- The suggestion to make any discontent with the buyout known in court has come from the Australian Shareholders Association (ASA).
- Making sure smaller voices are heard Less than two weeks after private shareholder Joe Cambria voiced his disappointment with the $23 billion takeover offer, the ASA is now giving investors the nudge to make their grievances known.
- In the case of Cambria, he believes that the airport is worth $12 per share, rather than the proposed $8.75 being offered by the consortium of buyers.
- According to ASA, investors should read the scheme booklet carefully once issued.
- To deliver such a blow, minority shareholders would need to put together an additional independent report.
- For Michael Pinn, a Sydney Airport investor, this would be an expensive task — though it was still in the realm of possibilities.
- Speaking directly to investors of the ASX-listed Sydney Airport via email, ASA said: The meeting is your opportunity to have your say and if you want to affect the outcome you need to submit a vote for or against the scheme.