Disney: improves bid for Fox to 71 billion dollars

(CercleFinance.com) - Disney raised its offer to acquire Twenty-First Century Fox to 71 billion dollars on Wednesday, in a widely-expected move which did not prevent the shares from rising today.


The new offer follows Comcast's cash bid worth 65 billion dollars last week, which represented a premium of approximately 19% to the value of Disney's previous offer of 52 billion dollars.

Under the amended agreement, 21st Century Fox shareholders may choose to receive 38 dollars per share in either cash or Disney ordinary shares.

The overall mix of consideration paid to Fox shareholders will be approximately 50% cash and 50% stock, Disney said.

Disney shares were up 1.2%, while Comcast was trading 0.9% higher. Fox shares were up 6.5% at 47.1 dollars, giving the company a market capitalization of 87.5 billion dollars.

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