LONDON (ShareCast) - (Sharecast News) - Overnight, 21st Century Fox published an offer for Sky priced at £14 per share overnight, short of a rival bid from Comcast at £14.75 per share.
Although Fox, which owns 39% of Sky, needed to confirm its bid this week, under UK Takeover Panel rules, it may raise its offer price at any point before 22 September.

The takeover has been complicated by Disney's $71bn (£55bn) acquisition of Fox's entertainment assets, including the stake in Sky.

Importantly, Fox, which is owned by Rupert Murdoch and his family, changed its scheme of arrangement bid to an offer, which needs only a simple majority of shareholders to approve. The Murdochs have set a threshold at 75% of shareholder votes but may reduce this to the minimum if needed to secure control.

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