The Disney & Fox deal isn’t done yet, and now the rival suitor for Fox’s entertainment assets has just sweetened the pot.
Business Wire reports that Comcast has made the announcement that it’s not only considering whether to make a superior offer to acquire 21st Century Fox, but to do so entirely in cash – a direct challenge to Disney’s all-stock offering which stands at a tentative $52.4 billion. The wire service says:
“Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney. The structure and terms of any offer by Comcast, including with respect to both the spin-off of ‘New Fox’ and the regulatory risk provisions and the related termination fee, would be at least as favorable to Fox shareholders as the Disney offer. While no final decision has been made, at this point the work to finance the all-cash offer and make the key regulatory filings is well advanced.”
In other words, Comcast is ready to move forward and make the offer if the time comes. Disney and Fox’s shareholders are scheduled to meet this summer and vote on whether Disney’s acquisition offer is to the liking of all parties.
Previous negotiations with Comcast stalled due to antitrust concerns, but the forthcoming AT&T and Time Warner potential merger is looking more likely to happen with each passing day – paving the way for a Comcast/Fox deal.
