Fox sets date for vote on Disney’s US$52 billion asset purchase, putting pressure on rival suitor Comcast
Fox has scheduled the special shareholder meeting for July 10, but said it may postpone the gathering should another ‘event’ require additional time
Twenty-First Century Fox has set a date for shareholders to vote on its US$52 billion plan to sell assets to Walt Disney, essentially creating a deadline for rival suitor Comcast to make a formal offer.
Fox scheduled the special shareholder meeting for July 10, but said it may postpone the gathering should another “event” require additional time, according to a statement Wednesday. Fox is recommending that investors vote in favour of the Disney merger.
The scheduled meeting adds to pressure on Comcast executives who are already laying the groundwork for a bid to snatch away Fox’s trove of entertainment assets.
Last week, Comcast confirmed its desire to outbid Disney for the Fox operations, sending a signal to Fox investors that they may not want to rush to accept a deal.
Executives at Comcast, which said its potential all-cash offer would top the value of Disney’s current all-stock bid, planned to begin approaching Fox shareholders to discuss their intentions soon, a person briefed on the matter said last week.
