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Comcast bids 65 bln USD to acquire 21st Century Fox's assets

Xinhua Financein NEW YORK
2018-06-14 09:26

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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.
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