Disney increases bid for Murdoch's Fox assets
Disney has increased its offer for 21st Century Fox to $71.3bn in cash and shares, up from an earlier $52bn offer.
The move values Fox at $38 a share, some $10 higher than Disney's first offer in December.
Disney is locked in a battle with US media conglomerate Comcast, which has offered $65bn in cash for Fox.
"The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies," said Disney boss Robert Iger.
The improved offer came as 21st Century Fox board was set to decide whether to back Comcast's bid for assets that include Fox's film and television studios and international businesses.
Disney also wants to acquire those businesses. The two firms are also vying for ownership of Sky in the UK.
https://www.bbc.co.uk/news/business-44544802...and Fox has accepted it:
Fox Accepts $71 Billion Disney Bid, Dealing Blow to Comcast
21st Century Fox Inc. accepted a sweetened, $71.3 billion bid from Walt Disney Co. for its entertainment assets, outbidding Comcast Corp. in a battle for one of the media industry’s biggest prizes.
The $38-a-share price is about $10 a share higher than what Disney offered in December -- and $3 above Comcast’s bid from last week. The new agreement also offers more flexibility and other enhancements than the Comcast offer, Fox said on Wednesday.
https://www.bloomberg.com/news/articles ... to-comcast