21st Century Fox Says Currently Considering Its Options For Sky

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(RTTNews.com) - Twenty-First Century Fox, Inc. (FOX, FOXA) said that it remains committed to its recommended cash offer for Sky plc (BSY.L, SKY.L) announced on 15th December 2016 and is currently considering its options.

Earlier today, Comcast Corp. (CMCSK, CMCSA) announced its pre-conditional superior cash offer for the entire issued and to be issued share capital of Sky plc (BSY.L, SKY.L). Sky shareholders will be entitled to receive 12.50 pounds in cash for each Sky share. Sky shareholders shall be entitled to receive any final dividend in respect of Sky's financial year ended June 30, 2018, up to an amount of 21.8 pence per Sky share, which is declared and paid prior to the effective date.

Comcast said its superior cash offer represents a 16 percent premium to the existing Twenty-First Century Fox, Inc. offer, and implies a value of $31 billion or 22 billion pounds for the fully diluted share capital of Sky.

Meanwhile, Sky said that, as a result of the announcement of higher cash offer by Comcast, its Independent Committee is withdrawing its recommendation of the offer announced by Twenty-First Century Fox on 15 December 2016 and is now terminating the Co-operation Agreement entered into with Twenty-First Century Fox on the same date.

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This article appears in: World Markets , Stocks , Economy
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