This is the real-life business drama that keeps on giving. Last year, it seemed all but confirmed that Disney would be acquiring most of 21st Century Fox for north of $50 billion. All that would need to happen is for the Department of Justice to approve it, and we’re good to go, right? Not so fast.
As we reported a few weeks back, Comcast seemed to be preparing to make an all-cash bid to acquire most of 21st Century Fox as well. So who will Fox decide to go to prom with? We still have over a month until they need to decide. A new report from THR states that July 10 is the date set for shareholders to decide on what direction they’ll take.
But what if Comcast actually makes good on their preparation for an all-cash bid?
“Under the Disney merger agreement, if any event occurs that 21st Century Fox determines, after consultation with outside legal counsel, is reasonably likely to require under applicable law the filing or mailing of any supplemental or amended disclosure, 21st Century Fox may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting.”
So, yeah…it’s possible that, should Comcast come forward with a sizable offer, that this can get delayed several months for them to consider both options. What do you think? Will Disney reign supreme or will Comcast undermine them and take over? Let us know your thoughts down below!
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