4 ms·
> "...had rejected Comcast’s earlier offer partly on concerns the government would block the deal." > "we are pleased to present a new, all-cash proposal that
by symlock 8y ago
> "...had rejected Comcast’s earlier offer partly on concerns the government would block the deal."
> "we are pleased to present a new, all-cash proposal that fully addresses the Board’s stated concerns with our prior proposal."
Anyone know why else the Comcast's offer last year was rejected? The article hints at cash vs stock as possibly being another reason.
- craftyguy 8y agoIf they think it'll be approved now because of the switch to cash (from stock), then that seems to suggest the advertised reason (government blocking it) was not really a real reason. Unless they thought the gov. would block it because it was stock and not cash?
- JoshTriplett 8y agoOne relevant factor the article doesn't mention: some deals of this type include a breakup fee to hedge against the possible rejection of the deal by the government. (Or, for that matter, a party to the deal backing out at a late stage.)
- weej 8y agoThe Verge article called the fee out. It's $4.025B, and Comcast offered to pay all of it (Disney & Fox's portions) in addition to the premium cash offer. https://www.theverge.com/2018/6/13/17457244/comcast-21st-century-fox-film-tv-studios-acquisition-deal-announced https://www.theverge.com/2018/6/13/17457244/comcast-21st-cen...
- mmanfrin 8y agoFear of the merger being blocked by the Feds. After of the approval AT&T got to buy TW yesterday, Fox shares jumped 7%.