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European Commission Clears 21st Century Fox to Buy Sky in USD 14.1bn Deal.

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M2 EQUITYBITES-April 10, 2017-European Commission Clears 21st Century Fox to Buy Sky in USD 14.1bn Deal

(C)2017 M2 COMMUNICATIONS http://www.m2.com

10 April 2017 - The European Commission has unconditionally cleared US-based media company Twenty-First Century Fox, Inc.'s agreement to acquire all of the outstanding shares in UK-based broadband and media firm Sky plc (LSE: SKY) it does not already own at a price of GBP 10.75 per share payable in cash less the value of any dividends subsequently paid by Sky, the company said

The deal, which was announced last December, would be worth around USD 14.1bn.

21st Century Fox still needs clearance from the UK authorities.

Fox said that the Independent directors of Sky have indicated to 21st Century Fox that they are willing to recommend the possible offer, subject to reaching agreement on the other terms and conditions of any offer.

In the past several years, 21st Century Fox has said that its existing 39.1% stake in Sky is not a natural end position.

A proposed transaction between 21st Century Fox and Sky would bring together 21st Century Fox's global content business with Sky's world-class direct-to-consumer...

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