Fox takeover bid for Sky

Gonzo

seems like Fox is interesting in taking over Sky

http://news.sky.com/story/21st-century-fox-tables-takeover-bid-for-sky-plc-10689526

icdg

They've been interested for years - unfortunately (for them) as I recall the previous talks conincided with the appearance of Murdoch at the Levenson Tribunal and the bid was shelved due to being politically unpalatable. Edit: at that point Fox and News Corp were still one company and the bid was by News Corporation.

The price would represent a significant premium for Sky shareholders, so good value.

helimachoptor

The board has now confirmed they'll recommend the deal to shareholders.

In January the share price was over £11 but its had a steep drop off and been hovering around the £7.50 mark for a chunk of the year..

Interesting times anyway

MarkR

The fall in the value of Sterling against the dollar must have helped.

dublinman1990

UK Culture Media & Sport Secretary Karen Bradley had today referred the takeover bid to the UK's competition authorities.

This phase of the examination will now last for a further six months until a final decision is made.

Ofcom have released the non-confidential version of the bid report between 21st Century Fox & Sky.

Link is here >> https://www.ofcom.org.uk/__data/assets/pdf_file/0013/103621/decision-fit-proper.pdf

dublinman1990

I've heard this as well just now.

Communications Minister Denis Naughten has given regulatory clearance for this bid in the Irish market.

http://www.hollywoodreporter.com/news/foxs-sky-takeover-gets-regulatory-clearance-ireland-1016939