News Abstract

Fox increases offer for full control of Sky

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21st Century Fox has raised its offer for the 61% of Sky it does not own to £14 a share, valuing the company at £24.5 billion ($32.5 billion). The offer is 30% more than the price it originally offered in December 2016, and is 12% more than the competing offer for the pay TV business lodged by Comcast in June. The new development in the long-running saga of the Fox takeover of Sky comes as the UK Government is about to make a decision on whether to approve the deal. Walt Disney Co is planning to acquire most of 21st Century Fox, including its Sky shareholding, but is also facing competition from Comcast. In June, Disney raised its offer for Fox to $71 billion, days after Comcast increased its offer for Fox to $65 billion.

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