Fox Has Accepted Disney’s Updated $71.3 Billion Offer
It looks like Disney is one step closer to sealing the deal with 21st Century Fox.
Last week, Comcast made a $65 billion cash bid in an attempt to sway 21st Century Fox away from Disney in order to gain the company’s film and television assets. In response, the Mickey Mouse House updated their original offer, increasing their bid to $71 billion to acquire the company.
Now, a few hours after the updated bid, Bloomberg reports that Fox has decided to accept Disney’s proposal. According to the publication, Fox believes that Disney’s offer “provides more flexibility and other enhancements than the $65 billion Comcast deal.”
Those following the battle between Disney and Comcast over the acquisition of 21st Century Fox and its assets may believe that this marks the end of the bidding war. However, this new report simply indicates that Fox has acknowledged the Mickey Mouse’s updated offer. The company is still open to whatever Comcast has planned if ever it wants to counter Disney’s bid.
This might be a bit difficult for Comcast though. Not only does Disney’s new offer bring a $38-per-share stock price, it also brings with it an agreement to take on Fox’s net debt.
Though not many are interested in seeing Disney balloon in even further, there are a lot of fans hoping that the Fox acquisition would allow the X-Men, Fantastic Four, and other mutants to join the Marvel Cinematic Universe. Hopefully Disney will finally be able to seal the deal soon.