17th Sep 2018 18:41
LONDON (Alliance News) - Paid TV-operator Sky PLC on Monday said it noted that Twenty-First Century Fox Inc has extended its cash offer, having received acceptances from shareholders, representing less than 0.1% stake in Sky.
Fox received acceptances for 1.3 million shares or 0.07% of Sky's issued shares. Fox currently holds a 39.12% stake in Sky.
Fox offers 1,400.00 pence per Sky share. The acceptance period has been extended to October 6, matching the Comcast Corp offer deadline.
Back in August, Comcast extended the acceptance period for its GBP25.9 billion or 1,475.00 pence per share cash offer for Sky, saying it has secured valid acceptances for only 3.8 million Sky shares, or 0.2% of Sky's total issued share capital.
Back then, Sky shareholders were also advised by Independent Committee Chairman Martin Gilbert to hold out for higher offers.
Fox has an option to publish a revised offer, should it elect to do so, until Saturday.
Shares in Sky closed down 0.1% at 1,578.41p on Monday.
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