Walt Disney will add cash to purchase Fox (Topic)

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Walt Disney will add cash to purchase Fox


Walt Disney intends to raise stakes against Comcast for ownership of 21st Century Fox assets. As reported by CNBC, citing its sources, in addition to the shares, it will offer Fox shareholders an as yet unspecified cash amount.

Recall that earlier the management of Walt Disney and 21st Century Fox agreed on the terms of the purchase. Walt Disney has pledged to pay Fox owners $ 52.4 billion in its own shares. Since the signing of this agreement, the value of the package has increased to $ 55.5 billion.

In turn, Comcast announced its readiness to pay $ 65 billion in cash. The company's management sent an open letter to Fox shareholders asking them to withdraw from the deal with Walt Disney. So far, there has been no official reaction to this. The meeting of shareholders is due in early July 2018.

The market value of Walt Disney shares at the time of this post was approximately $ 107 per share, while Comcast shares were valued at approximately $ 33 per share. The latter immediately lost two percent of their value after it became known about the generous offer of the company's management.

The Topic of Article: Walt Disney will add cash to purchase Fox.
Author: Jake Pinkman