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Investor Royal London asks Sky committee for more information
December 15, 2016 / 2:50 PM / 9 months ago

Investor Royal London asks Sky committee for more information

LONDON (Reuters) - Investor Royal London Asset Management on Thursday asked Sky’s (SKYB.L) independent committee of directors for more information on the advice on which they based their acceptance of a $14.6 billion offer from Twenty-First Century Fox (FOXA.O).

Rupert Murdoch’s Fox said earlier on Thursday it had agreed to buy European pay-TV firm Sky, sticking to its earlier offer despite complaints from some investors.

“We would urge the independent committee of Sky directors, who recommended that shareholders accept the offer, to share more information on the independent financial advice that they based their agreement on,” Richard Marwood, senior fund manager at Royal London, said in a statement.

“Such disclosure would help shareholders assess the fairness of the offer and give greater confidence in the independence of the committee in the bid process.”

Royal London has a 0.36 percent stake in Sky, it said in the statement.

Reporting by Carolyn Cohn; editing by Maiya Keidan

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