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Disney must bid £14 per share for Sky

A Takeover Panel has confirmed the initial ruling

The UK Takeover Panel has confirmed its ruling that Disney will need to offer at least £14 a share to buy Sky.

A possible mandatory offer for £14 a share had been set on the 13th of July, but a number of groups appealed this decision.

The ruling is subject to Disney’s completion of a deal to buy 21st Century Fox’s TV and film assets, which include a 39 per cent stake in Sky.

The price falls in line with the separate offer that Disney is making for Fox, while Comcast has already made a superior bid of £14.75 per share for the pay-TV giant.