U.K.'s Takeover Panel to Review Ruling on Disney's Sky Offer
July 18 2018 - 12:18PM
Dow Jones News
By Carlo Martuscelli
The U.K.'s takeover panel said Wednesday that on July 27 its
hearing committee will review its decision to require Walt Disney
Co. (DIS) to make an offer of 14 pounds ($18.46) a share for Sky
PLC (SKY.LN) in the event of it buying 21st Century Fox Inc.'s
(FOX) entertainment assets.
The decision comes after the panel's decision on Friday that
Walt Disney must raise its offer for Sky. At the time, the Takeover
Panel said that Sky intended to request a hearing to review the
ruling.
In April, the U.K. regulatory body said Disney's mandatory offer
for Sky would be priced at GBP10.75 a share. However, the price has
been increased in light of Disney's sweetened offer for the Fox
entertainment assets, which include a 39% stake in Sky, the panel
said.
Sky is 39%-owned by Fox, which shares common ownership with News
Corp. (NWS), the parent company of Dow Jones.
Read more about the Sky takeover at https://on.wsj.com/2JhQx1C
(WSJ paywall) or https://bit.ly/2usY3RU (NewsPlus).
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
July 18, 2018 12:03 ET (16:03 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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