After making a new, higher offer to acquire Fox’s assets earlier today, Comcast is now taking their case to the company’s shareholders directly. It’s been widely known for months that prior to the announcement of Disney reaching a deal to buy most of Fox back in December, Comcast – cable giant and owner of NBC Universal – had made its own attempts to negotiate a purchase of the same nature. Yet, Disney ended up emerging victorious, despite Comcast making a higher value bid at the time. Or so most thought.
The Disney/Fox acquisition still has to clear several hurdles before officially becoming reality, including surviving a vote among Fox’s shareholders currently set to take place on July 10. After that, Disney and Fox would still have to hope that the U.S. government ultimately approves of the sale plan, although that now looks a lot more likely after yesterday’s government approval of the gigantic merger between AT&T and Time Warner. Now that Comcast has jumped back into the mix with its own huge $65 billion all-cash bid, there is some doubt that the July 10 vote will even take place as scheduled.
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