Proactive Investors - Run By Investors For Investors

Bye bye Sky - Comcast's £30bn acquisition of the satellite broadcaster looks set to close early

Last week the American media giant agreed to buy a 39% stake in the satellite broadcaster from under-bidder 21st Century Fox
Bye bye Sky - Comcast's £30bn acquisition of the satellite broadcaster looks set to close early
The broadcaster holds rights to Premier League football

Comcast said it expects its £30bn acquisition of Sky (LON:SKY) to complete on October 9, ending one of the most protracted takeover sagas on recent history.

Last week the American media giant agreed to buy a 39% stake in the satellite broadcaster from under-bidder 21st Century Fox.

READ: Comcast drops 21st Century Fox bid to refocus on the pursuit of UK pay-TV firm Sky

It means Comcast, which last week increased its debt to around £21bn to help fund the deal, will hold or have acceptances totalling 75% of Sky’s share capital.

It said previously that it expected the transaction to be concluded by the end of the month.

Comcast's offer of £17.28 a share was £1.61 ahead of Fox's £15.67. In a dramatic end to what was effectively a 21-month, three round process overseen by the Takeover Panel, the two companies were made to submit sealed bids.

Fox, meanwhile, is being gobbled up by Disney for £55bn, and reports suggest this deal could be done and dusted by the year-end – slightly earlier than expected.

View full SKY profile View Profile

Sky Plc Timeline

Related Articles

Apollo 11
February 22 2018
Immersive VR, a technology company focused on the education space, was the first company Sure backed
ipad
September 19 2018
“Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post-launch franchise with pharmaceutical clients”
Mobile users holding phones up
September 05 2018
The mobile advertiser is placing itself at the forefront of the digital revolution as companies and brands increasingly look to the web as the next forefront of advertising

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use