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Comcast Makes $65 Billion Proposal to Acquire Twenty-First Century Fox

Comcast_LogoComcast Corp. delivered a letter to the Board of Directors of Twenty-First Century Fox Inc. (21CF) setting terms of a proposal for Comcast to acquire the businesses that 21CF has already agreed to sell to The Walt Disney Co. The proposal reflects a $65 billion equity value, or $35.00 per share in cash, which represents approximately 19 percent to the value of Disney’s all-stock offer.

The Walt Disney Co. and 21CF entered into a definitive agreement in December for Disney to acquire 21 CF, including the Twentieth Century Fox film and TV studios, along with cable and international TV businesses, for approximately $52.4 billion in stock.

21CF’s vote on the Disney merger proposal is scheduled for July 10.

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