Disney Offers to Buy Out India’s UTV for 20.1 Billion Rupees
This article is for subscribers only.
Walt Disney Co. offered to buy the rest of India’s UTV Software Communications Ltd. it doesn’t own for as much as 20.1 billion rupees ($454 million), as the world’s biggest media company seeks to expand in Bollywood.
Disney, which owns 50.44 percent of UTV, offered to buy all remaining outstanding shares for no more than 1,000 rupees each, the Mumbai-based company said in a statement today. That’s 11 percent higher than the closing price yesterday.