Murdoch’s 21st Century Fox seeks to acquire the 61 percent of Sky not already under its control.
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Rupert Murdoch's 21st Century Fox has raised its offer for Britain's Sky in an agreed deal valuing the pay-TV group at $32.5 billion, seeing off rival bidder Comcast for now. Fox, which has been trying to buy the pan-European group since December 2016, offered to pay 14 pounds per share, a 12 percent premium to Comcast's offer, but below the 15.05 pounds ($19.89) The U.S. cable group gatecrashed Murdoch's attempt to buy the 61 percent of Sky his group did not already own in February, when Fox was still firmly stuck in the regulatory process.One top-40 Sky shareholder said they expected Comcast to come back with a counter bid for Sky.However, British regulators have indicated that if Disney succeeds in buying Fox, including the 39 percent stake in Sky, it would be required to offer the same price for the remainder of Sky.Fox said Disney had given its consent to the additional debt Fox would take on and said that it would reimburse Fox by around 1 billion pounds if Fox succeeds in buying Sky at that price, but the Disney-Fox transaction falls through.
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