Sky: Disney required to make mandatory offer
(CercleFinance.com) - Walt Disney will be required to make a mandatory offer for Sky after the completion of its acquisition of Twenty-First Century Fox, the UK Takeover Panel decided on Thursday.
Disney's offer will have to be made at a fixed price of 1075 pence in cash for each Sky share within 28 days of completing the proposed acquisition of Twenty-First Century Fox.
This is the price that 21st Century Fox has been offering since last year to gain full control of Sky, in which the group currently has a 39% stake.
As a reminder, at the end of last year Disney entered into a definitive agreement to acquire Twenty-First Century Fox, after the spin-off of certain assets, with the bid totalling about 52 billion dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Disney's offer will have to be made at a fixed price of 1075 pence in cash for each Sky share within 28 days of completing the proposed acquisition of Twenty-First Century Fox.
This is the price that 21st Century Fox has been offering since last year to gain full control of Sky, in which the group currently has a 39% stake.
As a reminder, at the end of last year Disney entered into a definitive agreement to acquire Twenty-First Century Fox, after the spin-off of certain assets, with the bid totalling about 52 billion dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.