21st Century Fox in £18.5bn bid for Sky

December 9, 2016 4:32 pm Published by

21st Century Fox in £18.5bn bid for Sky

  • 9 December 2016
  • From the section Business

Sky remoteImage copyright

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”.


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