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Reuters:Comcast prepares all-cash bid to gate-crash Disney-Fox deal - sources

numble

numble

Member
Oct 25, 2017
814
WSJ: Comcast expected to submit its bid as soon as Wednesday. Another interesting tidbit is that Amazon was considering partnering with Comcast on the Fox bid:
https://www.wsj.com/articles/green-...-up-comcasts-fox-bid-merger-frenzy-1528840347

A court's approval of AT&T Inc.'s T 0.50% merger with Time Warner Inc. TWX 0.05%paves a clear path for Comcast Corp. CMCSA 1.19% to bid for 21st Century Fox assets as early as Wednesday and could trigger a round of deal-making by smaller media companies trying to keep up with the industry's titans.

The AT&T deal, which survived the U.S. Justice Department's legal challenge, will create a juggernaut with an unprecedented mix of assets spanning TV distribution, cable programming, wireless and broadband.

Separately, Walt Disney Co. and cable giant Comcast appear headed for a bidding war over Fox assets, including its Hollywood studio and international properties.

For Comcast, approval of the AT&T deal bolsters its case with Fox that a tie-up between the companies can pass muster with regulators. Comcast is expected to submit an all-cash bid at a substantial premium to Disney's all-stock $52.4 billion offer, people close to the situation say.
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Amazon explored the idea of splitting up the Fox assets with Comcast—whereby Amazon would get the domestic properties and Comcast would get international assets—but the idea didn't advance so Comcast is proceeding on its own, people familiar with the matter said.
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Nathan_Drake

Nathan_Drake

Member
Nov 6, 2017
431
numble

numble

Member
Oct 25, 2017
814
Comcast offers $65 billion, all cash, a 19% premium to Disney's offer:


https://www.cmcsa.com/news-releases...perior-all-cash-proposal-acquire-twenty-first
Comcast Makes Superior All-Cash Proposal to Acquire Twenty-First Century Fox after Spinoff of "New Fox"

$35.00 Per Share Proposal Provides Premium of Approximately 19% to Current Value of Disney's All-Stock Offer

PHILADELPHIA--(BUSINESS WIRE)--Jun. 13, 2018-- Comcast Corporation (Nasdaq: CMCSA) issued the following statement:

Today, Comcast Corporation ("Comcast") delivered a letter to the Board of Directors of Twenty-First Century Fox, Inc. ("21CF") setting forth the terms of a superior proposal by Comcast to acquire the businesses that 21CF has agreed to sell to The Walt Disney Company ("Disney") for $35.00 per share in cash, which represents a premium of approximately 19% to the value of Disney's all-stock offer as of 12:00 p.m., noon (Eastern Time) on June 13, 2018. The structure and other terms of Comcast's proposal, including with respect to the spin-off of "New Fox" and the regulatory risk provisions and related termination fee, are at least as favorable to 21CF shareholders as the Disney offer.
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