After a long road of negotiating for approval at home and abroad, The Walt Disney Company is finally set to complete its $71.3 billion acquisition of 21st Century Fox properties and begin the transition process. A joint statement by TWDC and Fox was released this morning which sets the timing for the historic deal’s closure at 12:02 am, March 20th.
The last hurdle Disney had to jump was gaining regulatory approval from Mexico, which was expected given the successful negotiations with Brazil.
This finalization of this deal will also create the Fox Corporation (previously referred to as New Fox), the company compromised of the 21st Century Fox properties Disney isn’t absorbing, and New Disney, the new holding company that will become a parent of Disney and 21CF shares.
According to the joint statement by Disney and Fox, 21st Century Fox shareholders will have until 5 pm on March 14th to decide on the amount of cash or shares they wish to receive in the deal; any shares they cash in are valued at $38 per share.