Back and forth we go as we have learned 21st Centry Fox has accepted a revised (meaning higher) offer from Disney for the acquisition of their media assets. This latest proposal comes in response to the $65 billion all-cash offer Comcast recently submitted.
Disney’s new offer is worth $71.3 billion in cash and stock. Nearly $36 billion of that total figure is expected to be paid in the form of cash.
Check out some of the financial details of this latest Disney offer copied below and then head on over to the Fox Business site for the full read.
Twenty-First Century Fox, has accepted a new offer from Disney, which included a higher per share offer of $38 per 21CF share versus the prior offer of $28 per share that Disney offered in December 2017.
21CF prefers the offer over Comcast’s recent bid, stating in a press release that, “The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018.”
Under the amended and restated Disney Merger Agreement, Disney would acquire those businesses on basically the same terms, except that, among other things, Disney’s offer allows 21CF stockholders to elect to receive their consideration, on a value equalized basis, in the form of cash or stock, subject to 50/50 proration.
