UK Takeover Panel: Disney Doesn't Believe Fox Deal Triggers Bid for Sky
December 14 2017 - 8:11AM
Dow Jones News
By Adria Calatayud
The U.K. Takeover Panel said Thursday that Walt Disney Co.'s
(DIS) has informed its executive that it doesn't believe the
acquisition of 21st Century Fox Inc. (FOXA) should trigger a
mandatory bid obligation for Sky PLC (SKY.LN).
The U.K. regulatory body said that Disney's announcement doesn't
alter 21st Century Fox's obligations under the Takeover Code with
respect to its existing offer for Sky.
21st Century Fox, which already owns a 39% stake in Sky, said
last year that it intended to buy the remaining 61% in the British
media company for 11.7 billion pounds ($15.62 billion) in a deal
that is under the scrutiny of U.K. regulators.
The Takeover Panel said it will seek the views of the
independent directors of Sky before deciding on the matter.
Shares in Sky at 1234 GMT were down 19 pence, or 1.9%, at 990
pence.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
December 14, 2017 07:56 ET (12:56 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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