Fox sets vote on Disney merger! Back in December a merger between The Walt Disney Company and 21st Century Fox was announced. This $54 billion dollar deal was big news – especially since it came after Comcast announced they were backing out of the running. In July Fox will vote on this merger.
With a record date of May 29, 2018 and a meeting date of July 10, 2018, a special meeting of Fox’s stockholders has been set to, among other things, consider and vote on a proposal to adopt the previously announced merger agreement (the “Disney Merger Agreement”) with The Walt Disney Company (“Disney”) and certain of its subsidiaries. 21CF’s board of directors recommends that stockholders vote in favor of the proposal to adopt the Disney Merger Agreement and the other proposals to be voted on at the special meeting.
21st Century Fox has stated that they are aware of the press release of Comcast Corporation (“Comcast”) of May 23, 2018, in which Comcast states that “it is considering, and is in advanced stages of preparing, an offer for the businesses of Fox that Fox has agreed to sell to Disney.” Under the Disney Merger Agreement, if any event occurs that Fox determines, after consultation with outside legal counsel, is reasonably likely to require under applicable law the filing or mailing of any supplemental or amended disclosure, Fox may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting.
We are waiting to see what happens at this July meeting and will make sure to share any news with our readers when it becomes available.
Source: 21st Century Fox
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