|
Fox
said it would pursue a Scheme of Arrangement, meaning it would
need the backing of 75 percent of Sky's independent shareholders
who vote to secure a deal that values Sky at 18.5 billion pounds
in total.
Seeking to consolidate his media empire across Europe and the
United States, Murdoch is buying the 61 percent of Sky he does
not already own to fully acquire its 22 million customers in
Britain, Ireland, Italy, Germany and Austria.
The two firms said last Friday they had struck a preliminary
deal, with some issues still to be agreed.
But the price disappointed several top 50 shareholders who
accused Sky of selling out to their founder and biggest
shareholder too cheaply.
Shares in Sky were trading at 985 pence on Thursday.
The agreed terms come five years after Murdoch failed in a
previous bid to buy Sky when a newspaper phone hacking scandal
at one of his tabloids derailed a previous offer. Lawyers expect
the new deal to be approved by European and British authorities.
(Reporting by Kate Holton; editing by Paul Sandle)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
