Disney Must Make Offer to Buy All of Sky If Fox’s Own Deal Falls Through

Should Fox’s deal to purchase Sky PLC fall through but Disney’s acquisition of Fox consummate, Disney is required to make a mandatory offer for all of Sky, a U.K. takeover panel has ruled. That is, unless Comcast or another third party acquires a majority stake in Sky beforehand.

The Mouse House will have 28 days within the close of its merger with Fox to make an offer to Sky. The offer must be at £10.75 (or $15.26) in cash for each ordinary share in Sky, the panel said.

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