£14/share floor set for Disney Sky bid

The UK’s Panel on Takeovers and Mergers – which administers the City Code on Takeovers and Mergers – has ruled that Disney must offer £14 a share for Sky if it succeeds in buying Rupert Murdoch’s 21st Century Fox.

The price set by the Panel on July 13th is the same as 21CF’s current offer for the 61 per cent of Sky that it does not already own, which values Sky at £24.5 billion, but short of rival bidder Comcast’s £14.75 per share, which Sky’s independent directors recommended to shareholders..

Source: £14/share floor set for Disney Sky bid