Comcast announced Wednesday a 65-billion U.S. dollars all-cash bid for Twenty-First Century Fox' s assets that are currently in an agreement to be acquired by Walt Disney.
Comcast, one of the largest cable companies in the United States, offered 35 U.S. dollars a share in cash to acquire the businesses that Twenty-First Century Fox has previously agreed to sell to Walt Disney. This represents a premium of approximately 19 percent to the value of Disney's all-stock offer as of 12:00 p.m., noon, Eastern Time on Wednesday.
The announcement came one day after a U.S. District Court judge ruled that AT&T could buy Time Warner with no conditions attached, denying a U.S. Department of Justice antitrust challenge to the deal.
On Wednesday, shares of Twenty-First Century Fox advanced 7.48 percent to close at 43.41 dollars apiece. Shares of Walt Disney advanced 1.9 percent while Comcast erased 0.19 percent.
Comcast, one of the largest cable companies in the United States, offered 35 U.S. dollars a share in cash to acquire the businesses that Twenty-First Century Fox has previously agreed to sell to Walt Disney. This represents a premium of approximately 19 percent to the value of Disney's all-stock offer as of 12:00 p.m., noon, Eastern Time on Wednesday.
The announcement came one day after a U.S. District Court judge ruled that AT&T could buy Time Warner with no conditions attached, denying a U.S. Department of Justice antitrust challenge to the deal.
On Wednesday, shares of Twenty-First Century Fox advanced 7.48 percent to close at 43.41 dollars apiece. Shares of Walt Disney advanced 1.9 percent while Comcast erased 0.19 percent.
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