19th Jun 2018 07:50
LONDON (Alliance News) - Walt Disney Co is likely to add a cash component to its USD52.4 billion offer for Rupert Murdoch's Twenty-First Century Fox Inc, after US cable company Comcast Corp outbid it, CNBC reported on Monday.
https://www.cnbc.com/2018/06/18/disney-is-expected-to-add-cash-to-its-bid-for-twenty-first-century-fox-assets-sources.html
CNBC spoke to unnamed sources who said Disney was prepared to add cash to its bid, days after Comcast made its move for Fox's assets offering USD65 billion in cash.
Comcast's offer represents a 19% premium to Disney's offer.
In December, Disney reached an agreement with Fox for a USD52.4 billion in all-share offer to buy Fox's movie studio and other assets. The offer has now gained value to around USD55.5 billion, CNBC said.
The television news channel reported that Disney was "willing to add cash if needed to win the bidding".
Fox's board will meet tomorrow to discuss Comcast's bid. If the offer is deemed superior, Disney will have five days to match it, CNBC said.
Last week, The European Commission gave the green light to Comcast for its takeover of Sky PLC, in which Fox is a major shareholder, as it "would raise no competition concerns in Europe".
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