Fox shareholders to vote on Disney’s offer on July 27

21st Century Fox (21CF) announced that it will vote on Disney’s revised offer on July 27. 21CF’s board of directors recommends that stockholders vote in favor of the proposal.
Fox had originally scheduled its shareholder vote for July 10, but postponed it after Comcast submitted its USD 65 billion offer. Disney had initially offered USD 52.4 billion for Fox’s assets, but then increased that figure to USD 71.3 billion.
However, TCI Fund Management, a large Twenty-First Century Fox shareholder, run by Sir Christopher Hohn, urged Fox executive chairman Rupert Murdoch to give Comcast a chance to top Walt Disney’s offer, according to a letter published by Financial Times.
According to Hohn, the recent approval of the Fox-Disney agreement by the Department of Justice of the United States sets a precedent for a possible agreement with Comcast.