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IT'S A BIDDING WAR: Disney boosts its offer for 21st Century Fox assets to $71. 3 billion

Posted On: Jun 20, 2018   |   Posted By: Business Insider

IT'S A BIDDING WAR: Disney boosts its offer for 21st Century Fox assets to $71. 3 billion

Disney has raised its offer for 21st Century Fox assets to $38 a share, or a total of $71.3 billion in cash and stock. Shares of 21st Century Fox are up almost 6% on the news.
The increased offer comes one week after Comcast crashed Disney's attempt to buy the assets with a $65 billion bid , following the US Justice Department's approval of the AT&T-Time Warner merger. Disney orginally made a $28 per share bid back in December.
"We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry," 21st Century Fox Executive Chairman Rupert Murdoch said in the press release .
"We remain convinced that the combination of 21CF's iconic assets, brands and franchises with Disney's will create one of the greatest, most innovative companies in the world."
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