While 21st Century Fox shareholders are poised to meet on July 27 to discuss the Walt Disney’s Co’s bid to purchase a majority of the company’s assets, not everyone under the Fox umbrella appears to be on board with the House of Mouse’s US$71.3 billion acquisition.
According to The Hollywood Reporter, film producer Robert Weiss is leading other Fox shareholders in a lawsuit filed in Delaware federal court, which “alleges that a proxy statement filed on June 28 omits or misrepresents the company’s financial projections and the data underlying financial valuation analyses from Goldman Sachs and Centerview Partners.”
“In short, unless remedied, 21st Century Fox’s public stockholders will be forced to make a voting or appraisal decision on the Proposed Transaction without full disclosure of all material information concerning the Proposed Transaction being provided to them,” the complaint reads.
After a bidding war with Comcast, Disney seemed to cement it win when the company raised its offer to a whopping US$71.3 billion. It’s said that the new US$38-a-share price is about US$10 a share higher than the original offer from Disney back in December, and it’s also US$3 above Comcast’s most recent bid.
Full Content: Hollywood Reporter
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