21st Century Fox in £18.5bn bid for Sky
9 December 2016
- From the section Business
US media giant 21st Century Fox has made an £18.5bn takeover approach for Sky, the UK-based satellite broadcaster.
The proposed offer is worth £10.75 a share in cash, a premium of 36% to the closing price on 8 December.
Sky shares jumped 32% in late trading in London following the announcement.
Media tycoon Rupert Murdoch controls 21st Century Fox, which already owns a 39.1% stake in Sky.
Sky said that the independent directors of both companies had “reached agreement on an offer price” of £10.75 a share, but added that “certain material offer terms remain under discussion”.
This post was written by FSB News