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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.
The deal would allow 21st Century Fox shareholders to elect to receive cash or stock, subject to 50/50 proration.
21st Century Fox shares are up 6%, and Disney shares are up 2.2%.
Watch Disney and 21st Century Fox trade in real time here.
Disney has raised its offer for 21st Century Fox assets to $38 a share, or $71.3 billion in all.
According to the press release , the terms of the deal are similar to Disney's previous offer except that the new deal would allow 21st Century Fox shareholders to elect to receive cash or stock, subject to a 50/50 proration. Shareholders would receive the number of shares equating to a $38 price so long as Disney's stock is trading between $93.53 and $114.32 at the deal's close.
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 AT&T's merger with...

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