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Miami land sales and the New York non gaming assets sales can't proceed if this acquisition of GenM is still hanging half way. it needs to be finalized or concluded..
question now is the rating agency assumed that Genting would cont to acquire GENM and delist it. up until now there s no update on what Genting would do now with it's 74% shares of GenM. are they going to cont to acquire GenM from the open market or extend a new offer or how?
wow, see how the boss manipulate the share price. really no idea what is he planning to do by suppressing the price of the mother share instead of GenM. reverse takeover? GenM buying back Genting Berhad? lol
anyway the commission may grant genting with the bidded rate and only reduce it when others start operating in 2030. for the first 5 years Genting may need to pay the high rate of 56% and 30%. that would be a fair approach
genting can still exit the bid if not granted lower taxes. why compete with others who granted lower taxes? that would be good news to exit since the market isn't supportive of such license looking at the muted share price.
do you really think the boss would offer higher? perhaps he would and offer a bit higher e.g. 2.40 and with the recent poor experience, most may accept this time rather than being sold down again. psychologicaly, he s already won. just wait for tonight announcement if the boss is still collecting.
it s a done deal now with GenM privatization. looking at the volume yesterday and today, the remaining 1.7% would be acquired by end this week if such trend continues.
