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Fox posts offer note for Sky deal

Twenty-First Century Fox has put in an offer document and form of acceptance for its £14 a share offer to buy Sky.

The move sees Fox temporarily table plans to make a higher bid than Comcast’s £14.75 offer.

The deadline for Fox to set out a revised offer document is September 22. Sky has acknowledged the document and its independent committee will respond to the offer within 14 days.

Fox continues to seek acquisition of 61% of Sky that it does not own. If Fox were to succeed in buying Sky, the UK media company would ultimately become owned by Disney as a result of the latter company’s attempt to buy Fox assets.

Comcast has campaigned to buy Sky throughout the year and the move becomes all the more important after the company dropped out of its bidding war with Disney for Fox assets.

Tags: Comcast, Fox, M&A, Sky