Comcast makes USD 65 bln cash bid for 21st Century Fox

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(Telecompaper) Comcast has made its official bid for most of the assets of 21st Century Fox. The company said it will give USD 35 per share in cash for the businesses. The offer, coming to a total of about USD 65 billion, represents a premium of 19 percent to Disney’s all-stock offer. Comcast said the structure and other terms of its proposal, including with respect to the spin-off of “New Fox”, “are at least as favourable to 21CF shareholders as the Disney offer”. The company also noted that its bid was not dependent on any financing condition.¬†
Source: Industry News (syndicated from Telecompaper.com)

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