21st Century Fox Makes Official Offer For Sky

(RTTNews) - 21st Century Fox (FOX, FOXA) posted an offer document and a form of acceptance to accept the offer to Sky PLC (BSY.L, SKY.L) shareholders in respect of its cash offer for the fully diluted share capital of Sky which 21st Century Fox and its Affiliates do not already own at a price of 14.00 pounds for each Sky share, that would be implemented by way of a takeover offer.

It is a requirement of the City Code on Takeovers and Mergers that 21CF publish an offer document in respect of its cash offer by no later than August 9, 2018 (being the date falling 28 days after the satisfaction or waiver of the last outstanding pre-condition to the previously announced cash offer). 21CF satisfied the requirement by posting the Offer Document and Form of Acceptance.

The Acquisition is conditional on 21CF securing valid acceptances of the Offer in respect of Sky shares which represent 75% or more of the Sky shares to which the Offer relates. 21CF reserves the right to reduce this acceptance condition to a level which is not less than a simple majority of all Sky shares.

21CF notes that the deadline for publication of a revised offer document is September 22, 2018, or such later date as the Panel may determine in accordance with the City Code.