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Comcast says Sky shareholders have until October 6 to accept offer

Reuters 

(Reuters) - Corp's bid of 14.75 pounds for each Sky share will now remain open for acceptance until early October, the U.S. said on Wednesday, adding that it has received valid acceptances for shares representing 0.29 percent of to date.

London-based Sky has been at the centre of a bidding war, which points to a bigger battle in the industry as splash out tens of billions of dollars on deals to be able to compete with and Amazon.com Inc.

Comcast, the world's biggest group, had countered Fox's raised offer for Sky in July - within just a few hours - with an offer that valued London-listed Sky at $34 billion.

Nasdaq-listed said on Wednesday that Sky shareholders now have until Oct. 6 to accept its offer and the valid acceptances rose slightly to 0.29 percent from 0.21 percent reported in August.

Shares in Sky, which is 39 percent owned by Fox, have roughly doubled to 15.45 pounds from the 7.81 pounds they were trading at when offered to buy the rest of the company in December, 2016.

Comcast's current offer, higher than Fox's 14 pound-a-share bid, has been recommended to shareholders by Sky's independent directors.

currently has just ten days from now to trump Comcast's offer for Sky under British takeover rules.

(Reporting by Muvija M and Justin George Varghese in Bengaluru; Editing by Elaine Hardcastle)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, September 12 2018. 22:57 IST
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