News Abstract

Disney on verge of Fox acquisition as shareholders approve $71 billion deal

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The Walt Disney Company’s proposed $71 billion acquisition of 21st Century Fox assets has been approved by shareholders of both companies. This follows US regulatory approval by the Department of Justice last month, with completion of the transaction now subject to clearance by several non-US regulators. Under the Disney Merger Agreement, Fox stockholders may elect to receive $38 per share in either cash or shares of New Disney, a new holding company that will become the parent of both Disney and Fox. The finalisation of the deal comes after competing bidder Comcast opted not to raise its offer of $65 billion to acquire the same Fox assets Disney has now secured. Disney initially agreed a $52 billion deal in December 2017.

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