Saturday, July 28, 2018

Disney and Fox's $71.3 billion merger gets shareholder approval


By Engadget, July 27, 2018

Now that Comcast has withdrawn from the bidding war, Disney is free to proceed with acquiring most of 21st Century Fox's assets. Shareholders for both companies just approved a $71.3 billion buyout, a larger figure than either of the suitor companies' earlier offers. They must still divest 22 regional sports networks per the Justice Department's demands, but should everything go smoothly, the merger is expected to be completed in the first half of 2019.

Shareholders for both companies met separately at the New York Hilton this morning to vote on the $71.3 billion offer. Only one individual protesting the bid and said Disney is overpaying for Fox, Variety reported.
Read More: https://www.engadget.com

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