Comcast Offers $65 billion in Cash for 21st Century Fox, Topping Disney Offer
In a second attempt, Comcast makes a $65 billion dollar all-cash offer for 21st Century Fox, in a bid war against The Walt Disney Company. Disney offered $52.4 billion in December.
In a letter to 21st Century Fox’s board of directors, Comcast leaders said they were disappointed 21st Century Fox entered into a contract with Disney, even though Comcast originally offered a higher price. In light of a federal judge approving the merger between AT&T and Time Warner, they are presenting a new proposal.
Fox shareholders are scheduled to vote on the Disney deal on July 10, but that may change now with this new offer.