Deals
Disney Forced Into Takeover Offer for Sky If Fox's Bid Fails
- Mandatory offer applies if Disney purchase of Fox goes through
- Ruling adds another potential bidder for pay-TV company Sky
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Walt Disney Co. will be forced to bid for Sky Plc if U.K. regulators block an existing offer by 21st Century Fox Inc. for the British pay-television company.
Disney would have to offer at least 10.75 pounds per Sky share upon completing its $52.4 billion acquisition of most of Fox’s media and entertainment assets, the U.K. Takeover Panel said Thursday in a statement. Those assets include Fox’s 39 percent stake in Sky. Disney wouldn’t be obligated to bid should Fox or Comcast Corp. acquire the London-based company.