Sky Announcement

[idpickering]

Response to update published by the UK CMA

Sky notes the publication today by the CMA of two alternative remedy proposals submitted by Twenty-First Century Fox, Inc. ("21CF") to the CMA, specifically:



(1) a legal separation and comprehensive ringfencing of Sky News; or



(2) a divestiture of Sky News to The Walt Disney Company ("Disney") envisaged to occur only after completion of 21CF's acquisition of Sky (and irrespective of whether Disney's proposed acquisition of 21CF reaches completion).

https://www.investegate.co.uk/sky-plc-- ... 07275727J/

[OLTB]

Morning all - Comcast have just announced their own bid for Sky at £12.50 / share according to the BBC business news.

Cheers, OLTB.

[idpickering]

Thank you OLTB. If I may just add to your post please;

Sky receives £22bn formal takeover offer from Comcast

US cable TV giant Comcast has made a formal £22bn bid for Sky, which values the broadcaster at £12.50 a share.

The move threatens Rupert Murdoch's attempts to take full control of the pay-TV group.

His 21st Century Fox had already agreed to buy the 61% of Sky it does not already own, an offer worth about £19bn.

Comcast is the biggest US cable TV firm, and owns the broadcast TV network NBC and Universal Pictures.

"We are delighted to be formalising our offer for Sky today," said Comcast chief executive Brian Roberts.

Full item here;

http://www.bbc.co.uk/news/business-43891132

[idpickering]

And this from Sky;

Response to all-cash offer for Sky by Comcast Corporation ("Comcast")

The Independent Committee of Sky welcomes today's announcement by Comcast of its firm intention to make a £12.50 per share pre-conditional cash offer for Sky (the "Comcast Offer"), which follows its initial possible offer announcement on 27 February.



The Independent Committee also welcomes the post-offer undertakings and commitments Comcast intends to give in relation to Sky's existing business including Sky News, and believes that these voluntary commitments should comprehensively address any potential public interest concerns. In addition to Comcast and as required by the Takeover Panel, Sky also intends to give the same post-offer undertakings conditional upon the Comcast Offer becoming wholly unconditional.

Full item here;

https://www.investegate.co.uk/sky-plc-- ... 46150965M/

[PinkDalek]

The SUPERIOR CASH OFFER FOR SKY PLC ("SKY") BY COMCAST CORPORATION ("COMCAST") announcement itself is here:

http://www.londonstockexchange.com/exch ... 18153.html

It includes:

Under the terms of the Acquisition, Sky Shareholders will be entitled to receive:

£12.50 in cash for each Sky Share and In addition, Sky Shareholders shall be entitled to receive any final dividend in respect of the financial year ended 30 June 2018, up to an amount of 21.8p per Sky Share, which is declared and paid prior to the Effective Date. ....

Further details on the Final Dividend ... and any other dividend (or other distribution or return of capital) are further down that page.

[Bouleversee]

Are we likely to see a bidding war now or do you think this is it? I decided to sell some of mine yesterday @ £13.57 and bought more PFC before they went x-d today. It remains to be seen how that pans out.