DOJ to approve Walt Disney's purchase of Fox in two weeks
Walt Disney will take no more than two weeks to approve the terms of the 21st Century Fox asset purchase contract. This is with reference to information from the US Department of Justice, reported by Bloomberg. The authorities will not have any additional claims against the parties to the transaction, which will require legal proceedings. Walt Disney is said to have already agreed to sell part of its assets to avoid accusations of market monopolization. Such a quick approval period makes it very problematic to put forward a counter-proposal from a competitor - Comcast. Recall that initially Walt Disney offered 21st Century Fox owners just over $ 52 billion in shares. Then Comcast stepped in, pledging to acquire Fox for $ 65 billion in cash. Just days later, Walt Disney responded by raising its bid to $ 71 billion. Note that a similar merger between AT & T and Time Warner took over a year to approve as the Justice Department challenged the terms in court. As a result, the court sided with the partners and allowed to conclude a contract, which was estimated at $ 85 billion. The Topic of Article: DOJ to approve Walt Disney's purchase of Fox in two weeks. |
