The UK’s Takeover Panel confirmed on Thursday, August 16, that Walt Disney must make an offer of £14 (US$17.80) a share for Sky if it buys 21st Century Fox entertainment assets, reported Reuters.
The panel backed its previous ruling that the mandatory £14-a-share offer won’t apply if either Fox acquires 100% of Sky or if Comcast or another third party, buys more than 50% of the British pay-TV group by the time the deal between Disney and Fox is completed.
The price is designed to reflect the level of the offer Disney is making for Fox, and its holding in Sky.
Full Content: Reuters
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