Monday, December 12, 2016

Fox closes deal to buy the Sky by £18 billion

The media mogul Rupert Murdoch, who owns the American media group 21st Century Fox, closed deal to purchase full control of British Sky by £18 billion. In announcement made in the stock market, the Sky reported that the independent directors of both companies have reached an agreement on the provision of £ 10.75 per share.
The Sky formed an independent Board Committee to consider the terms of the proposal. The independent directors said they would recommend the deal to stockholders of Sky. However, they said in a statement that are still discussing some terms of the agreement. Fox already has 39% of the Sky.
Sky''s shares have risen nearly 30%, to £ 10.26 after the news.
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