While the United States Department of Justice’s antitrust division approved The Walt Disney Company’s acquisition of 21st Century Fox properties back in June, both companies have been awaiting a decision from European regulators that would allow them to proceed with the $71.3 billion deal. They may be waiting a little bit longer, as the EU have just pushed back the deadline for the merger’s review until mid-November after Disney submitted a proposal of concessions to the European Commission on Friday, October 12th.
What Disney’s proposed concessions are is unknown.
While the initial deadline for a judgement on the deal was set for October 19th, the European Commission has moved the date to November 11th so that they will have an opportunity to speak with customers and competitors prior to their decision to move forward or seek more concessions.
Both companies involved are preparing for 21st Century Fox’s transition over to Disney, and Fox executives have recently stated that their new corporate structure should be in place before the deal is transactionally official on January 1st of next year.
Source: Reuters
