I suspect that if you own any financial (lending side) company – you will know how hard it is to recover money (even with secured assets). Lender are using this opportunity to recover their debt.
On Sony’s perspective, this deal was anyway good at around 250/shares and get controlling stake and after merger current promoter can’t go beyond 20% or something and they were pursuing this deal in past as well (remember sport deal). They got approached by PG (to save his job) when Invesco fiasco was going on so it is quite obvious they had leverage and it is not very good for minority shareholder and top of it current promoter also get 1100 crs non-compete fee so sony has to adjust it against company valuation.
Thanks!
Disc. No holding. tracking.
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