With a long-rumored competing Comcast bid now officially announced, Twenty-First Century Fox Inc. has set a July 10th special meeting where stockholders will vote on the Disney acquisition of numerous Fox properties.
The $52.4 billion Disney deal is currently undergoing regulatory inspection, and is still within the 12-18 month window initially estimated for it to pass regulators. Fox announced the special meeting Wednesday in a press release; their board recommends accepting the Disney merger in spite of the Comcast developments.
Comcast recently announced that it was gathering funds to outbid Disney’s December stock offer with a more substantial cash offer. In an effort to match the competition, Disney had intentions of converting some of their offer to cash, or keeping their existing stock offer and adding an additional cash offer on top of it.
Back in November of 2017, prior to the announcement of the Disney/Fox deal progressing, Comcast had apparently offered to purchase Fox properties for a $64 billion sum, according to regulatory filing submitted in April.
Source: 21st Century Fox
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