A couple of canny analysts say Las Vegas Sands Corp. is unlikely to be close to a deal with any of the four reportedly ‘serious’ investors for its stalled Cotai projects.
The reason? In the last three trading days of March the LVS chairman Sheldon Adelson bought an additional 12.6 million company shares for USD37.4 million.
Given the timing of the share purchase, the analysts say a deal with one or more of the unnamed investors cannot be expected at this stage. They point out that for a chairman to buy his company’s shares when he has knowledge of a deal that could boost the price of those same shares would be to contravene the strict US laws on insider trading. Mr Adelson is not that sort of chairman.
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