21st Century Fox and the Walt Disney Company today announced a new deal that increases the value of Disney’s original December 2017 offer from $28 a share at $52.4 billion to $38 a share at $71.3 billion, with a new cash component. This agreement „is superior to the proposal“ from Comcast made earlier this month, according to an unnamed representative speaking for Fox (via The Wall Street Journal).
Additionally, the new Fox-Disney deal states that Fox shareholders will be able to receive their consideration „in the form of cash or stock,“ subject to 50/50 proration. The updated deal comes six months after Disney first announced [...]
Just a day after a U.S. District Judge approved the upcoming merger between AT&T and Time Warner, Comcast has submitted a bid for 21st Century Fox’s TV and film assets, reports CNBC.
Comcast has presented Fox with an all-cash offer at $35 per share for a total of $65 billion, which beats out Disney’s stock-based $52.4 billion deal. 21st Century Fox has already moved forward on a deal with Disney, but Comcast is aiming to change the minds of Fox’s board members. From the letter sent to Fox’s board by Brian Roberts, Comcast CEO.
So, we were disappointed when 21CF decided to enter into a transaction with The Walt Disney Company, [...]
Last December, The Walt Disney Company outlined plans to acquire 21st Century Fox and a collection of its subsidiaries for $52.4 billion in stock. Those plans have been under regulatory scrutiny for months and have yet to be finalized, and now Comcast has confirmed it is in „advanced stages“ of sending Fox a „superior“ all-cash offer in hopes of besting Disney’s all-share offer (via Bloomberg).
Previous reports about Comcast’s potential bid also referenced an all-cash deal, and put an estimate above Disney’s to as much as $60 billion in cash from Comcast for the designated Fox assets. Comcast’s press release today does [...]