Disney increases its offer for 21st Century Fox

Disney's new offer is worth $71.3 billion of cash and stock
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The Walt Disney Company has officially increased its bid to acquire 21st Century Fox's assets.

In December, the two companies had agreed on Disney's original offer of $52.4 billion. However, following Comcast's counter all-cash bid of $65 billion, Disney has now increased its bid to $71.3 billion in cash and stock.

It means Disney is now offering $38 per share, compared to its original $28.

“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry,” said Fox's executive chairman Rupert Murdoch. “We remain convinced that the combination of 21st Century Fox’s iconic assets, brands and franchises with Disney’s will create one of the greatest, most innovative companies in the world.”

“We remain convinced that the combination of 21st Century Fox’s iconic assets, brands and franchises with Disney’s will create one of the greatest, most innovative companies in the world.”

 

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