Sky Issues Statement On UK Panel Ruling - Quick Facts

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 (RTTNews.com) - Sky PLC	(BSY.L, SKY.L) stated that its shareholders are 

advised to take no further action with regard to the announcement by the UK Panel on Takeovers and Mergers. The Group said further advice to its shareholders will be announced in due course.

Earlier, the Takeover Panel announced it has informed each of Disney, Fox and Sky of its ruling that, following completion of the acquisition by Disney of Fox (after a spin-off of certain businesses), Disney will be required to make a mandatory offer to the holders of ordinary shares in Sky as a result of Fox's stake of approximately 39% in Sky. The Executive has further ruled that the offer must be at 10.75 pounds in cash for each ordinary share in Sky. The Panel noted that each of Disney, Fox and Sky has accepted these rulings.

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This article appears in: World Markets , Stocks , Economy

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