Deals
Disney's $71 Billion Fox Bid Backed by Influential Proxy Firms
- Advisers’ endorsement boosts Disney’s chance of winning Fox
- AT&T appeal also is expected to weigh on Comcast’s rival bid
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Walt Disney Co.’s $71 billion deal with 21st Century Fox Inc. won the endorsement of influential proxy advisers Institutional Shareholder Services Inc. and , giving the entertainment giant another edge over rival suitor Comcast Corp.
Both firms recommended that Fox shareholders vote in favor of the transaction during a July 27 investor meeting, with Glass Lewis arguing that Disney offered “a unique, prospectively far-reaching opportunity” to capitalize on the acquisition. Disney is vying with Comcast to acquire a prized collection of Fox entertainment assets that includes the 20th Century Fox film and TV studios.