An offer of £24.5 billion tabled by 21st Century Fox yesterday to take control of Sky was trumped late last night by a counterbid from the rival Comcast in a further escalation of the takeover battle for the European pay-TV group.
The £14 per share offer is 12pc higher than the £12.50 offered by Comcast in April and 82pc higher than the stock's value before Fox made its first offer in November 2016.
Disney recently increased their Fox Studios offer from $52.4 billion to $71.3 billion following Comcast offering a $65 billion all-cash deal for Fox. Comcast has also offered guaranteed funding for Sky News and other commitments, including maintaining Sky's West London base. At present, Disney appears to have the upper hand in the contest for Fox, stirring speculation that Comcast will redirect its firepower into snatching away Sky as a standalone acquisition. And should Comcast be successful in its bid to overtake Disney and buy Fox, Disney could in turn buy those RSN's and fold them into the ESPN brand.
TROPICS: 2 systems may form this week in Atlantic
The NHC said that the system is expected to dissipate however it will still bring gusty winds and showers to the Lesser Antilles. On Thursday afternoon, Tropical Storm Beryl was 1,330 miles east-southeast of the Lesser Antilles moving west at 16 mph.
Now it's up to Comcast (cmcsa) to decide how much Sky is worth. He left the completion of the deal in the hands of Sky's shareholders. Rupert Murdoch's company is willing to pay £14 (Rs 1,254) per share - or £32.5 billion (Rs 2.96 lakh crore) - instead of £10.75 (Rs 978) per share for Sky. According to some shareholders, that has set an implied higher floor for Sky's shares.
The end of the week is also be the deadline for Comcast to post an offer to Sky shareholders, who then have 60 days to consider that offer under United Kingdom takeover rules. Analysts said it was not a knock-out, and Fox did not say it was its final offer.
Murdoch's company still faces significant regulatory battles in Britain, including the culture secretary's statement that Fox would have to divest itself of Sky News to win government approval because of concerns about media plurality.
'Better than expected' rescue suspended for night; four out
Reuters news agency reported that six boys have been rescued, citing a senior member of the medical team involved in the rescue. The boys, aged between 11 and 16, and their 25-year-old coach belong to a local team called Moo Pa ( Wild Boars ) Academy.
Fox said it had secured the agreement of the independent committee of Sky for the deal.
Murdoch had previously tried to buy Sky in 2011 when a phone hacking scandal at his News of the World tabloid sparked a political backlash over his role in Britain.
Live Stream, TV Schedule for Tuesday's Semi-Final Game
The JOE World Cup Minipod semi-final preview hosted by Dion Fanning and Paddy McKenna is here. France won 4-2 when the teams met in the group stages in the 1986 World Cup in Mexico.