Comcast makes GBP 22 billion formal bid for Sky

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(Telecompaper) Comcast has announced a formal takeover offer for UK broadcaster Sky at GBP 12.50 in cash per share, valuing the company at GBP 22 billion (USD 31 billion), in line with its preliminary approach in February. This represents a 16 percent premium to the offer from 21st Century Fox. As a result, Sky is withdrawing its recommendation of the Fox offer and terminating their co-operation agreement. 
Source: Industry News (syndicated from Telecompaper.com)

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