It seems that Comcast is a bit more than serious about scooping up 21st Century Fox. While it seemed as though the merger with Disney was a done deal, Comcast finally made its formal offer for the Murdoch owned company, putting in a big of $65B.
Currently, Fox has a meeting on the books for July 10 to vote on the Disney offer, but that meeting may now be in jeopardy. Disney’s bid of $52.4B includes a breakup fee of $1.52B, an amount that would be more than covered by the Comcast offer.
The Disney deal seemed to be all but done as recently as a few months ago, but an extra $12.6B is impossible to ignore.
Disney will be able to counter, and it also has a leg up because the Murdoch’s would retain some control as the deal also involves stock.
What happens now is anyone’s guess, but it’s going to be interesting to watch.