U.K. broadcaster Sky has accepted an offer from Comcast for a $39 billion takeover, the company said in an official statement.
“As the price of the Comcast Offer is materially superior, it is in the best interests of all Sky shareholders to accept the Comcast Offer,” the company said.
“Accordingly, the Independent Committee unanimously recommends that Sky shareholders accept the Comcast Offer, and in order to ensure the successful closing of the Comcast Offer, and given the possibility of a delisting of Sky in the near future, urges shareholders to accept immediately.”
Comcast outflanked rival Twenty-First Century Fox in a $39 billion takeover of British broadcaster Sky on Saturday, submitting a much higher bid in a rare three-round auction that pitted two of America’s largest media companies against one another.
The U.S. cable giant outbid its rival by $3.6 billion, offering £17.28 (over $22 per share, according to current exchange rates). Rupert Murdoch’s Fox offered £15.67 (over $20) per Sky share, according to an official statement from the Takeover Panel.
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