Comcast: outbids Disney for Twenty-First Century Fox

(CercleFinance.com) - Comcast has made a bid of 65 billion dollars for Twenty-First Century Fox, which represents a premium of approximately 19% over Disney's offer.


Comcast's new proposal offers 21CF shareholders 35 dollars per share in cash, while Disney's all-stock offer of 0.2745 Disney shares for each 21st Century Fox values the media giant at approximately 52.4 billion dollars.

For the remainder, Comcast agrees to the same divestiture package as Disney, beginning with the spin-off of "New Fox".

Separately, Comcast has announced a pre-conditional all-cash firm offer for the entire share capital of Sky, of which Twenty-First Century Fox holds approximately 39.1%.

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