LONDON (Reuters) - Britain’s takeover regulator said on Wednesday that it would review its ruling that Walt Disney (DIS.N) might have to acquire UK broadcaster Sky (SKYB.L) for at least 14 pounds a share.
The Takeover Panel said its hearings committee would meet on July 27 to examine the regulator’s decision last week after “various interested parties affected by the ruling” asked for a review.
The Panel’s decision that Disney should make a mandatory offer of at least 14 pounds a share for Sky only applies if Disney’s offer for Twenty-First Century Fox (FOXA.O), which owns 39 percent of Sky, completes before either Fox or Comcast (CMCSA.O) succeed with their competing offers to take control of the British pay-television company.
Sky’s independent directors have recommended a 14.75 pounds a share offer made by Comcast last week that trumped a 14 pounds offer submitted by Fox.
Reporting by Ben Martin; Editing by Elaine Hardcastle