16th Aug 2018 07:00
2018/3
SKY PLC - RESULT OF APPEAL
THE WALT DISNEY COMPANY ("DISNEY")
TWENTY-FIRST CENTURY FOX INC. ("FOX")
SKY PLC ("SKY")
Following a hearing before the Takeover Appeal Board ("the Board") on 15 August 2018, the Board determined to confirm the Ruling of the Hearings Committee of the Takeover Panel dated 3 August 2018, Panel Statement 2018/13, that the Chain Principle Offer which Disney will be obliged to make within 28 days of completing its acquisition of Fox (after a spin-off of certain businesses) should be at the price of £14.00 for each ordinary share in Sky, but that that offer need not be made if by then Fox has acquired 100% of the shares in Sky or Comcast or any other third party has acquired more than 50% of such shares.
Reasons for the decision of the Board will be given in due course.
16 August 2018
Related Shares:
Sky