A Disney Fox Amended Merger was Announced Today

A Disney Fox amended merger was announced today by 21st Century Fox. When announced in December, the purchase price was $52.4 billion – or right at $28 per share.  This amended offer has increased that price to $38 per share – or just over $71 billion. The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018.

The terms of this  amended and restated Disney Merger Agreement are basically the same except that, among other things, Disney’s offer allows 21CF stockholders to elect to receive their consideration, on a value equalized basis, in the form of cash or stock, subject to 50/50 proration. The collar on the stock consideration will ensure that 21st Century Fox shareholders will receive a number of Disney shares equal to $38 in value if the average Disney stock price at closing is between $93.53 and $114.32.

“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry,” said Rupert Murdoch, Executive Chairman of 21st Century Fox. “We remain convinced that the combination of 21CF‘s iconic assets, brands and franchises with Disney‘s will create one of the greatest, most innovative companies in the world.“

In light of the revised terms contained in the amended and restated Disney Merger Agreement, 21CF’s board, after consultation with its outside legal counsel and financial advisors, has not concluded that the unsolicited proposal it received on June 13, 2018 from Comcast could reasonably be expected to result in a “Company Superior Proposal” under the Disney Merger Agreement.

However, the amended and restated Disney Merger Agreement contains no changes to the provisions relating to the Company’s directors’ ability to evaluate a competing proposal.

As announced on May 30, 2018, 21CF has established a record date of May 29, 2018 and a meeting date of July 10, 2018, for a special meeting of its stockholders to, among other things, consider and vote on a proposal to adopt the Disney Merger Agreement.  21CF has determined to postpone its special meeting of stockholders to a future date in order to provide stockholders the opportunity to evaluate the terms of Disney’s revised proposal and other developments to date. Once 21CF determines the new date for 21CF’s special meeting of stockholders, the date will be communicated to 21CF stockholders.

Source: 21st Century Fox

Photo Credit: Walt Disney Company and 21st Century Fox

Let our friends at Destinations to Travel help you book your next Disney Vacation. They are the preferred Travel Agency of Chip and Company and Disney Addicts, and who we use ourselves.

Get started below for your FREE No Obligation Quote.

Book With our friends at Destinations to Travel

Who is your Travel Agent?(Required)

Let us pick for youEric HilesStacy ReedAbbey JohnsonAlisa SullivanAlli WillisAmanda FolsomAmanda VannAmber BrillhartAmber FisherAmy SieburnAndrea SmithAngela AndersonAngie BaycuraAnna PetrilliAnnabelle DuboseApril StefanskiAshley RamseyBeth ParsonsBetsy SantoroBrandie McQueenBrian BuckleyBridget HatchBryan SchwartzCandice SneedCarrie ButlerCarson DockumCasey BoltCharleen HortonChelsea RoyChelsea WuebkerChris BoyerChristie GrubeChristina FratturaChristina SmithCourtney WhiteCraig YoderDan MercedDanielle NorcrossDarby MouritsenDavid ForrestDeborah AlvaradoEmilee BiegelEmily MorrisFaith HakesGail HatchGreg MatzkerHelen HummerHolly CurryJackie CavistonJaclyn PepitoneJamie SwansonJeanine JordanJeff CallahanJenni MaierJennifer BrownJennifer StephensonJennifer StoessnerJessica HatfieldJessica HuffJessica WunderJoe GuertinJon CarpentierJoseph SliwaJulie McCombJustin BrownKat AttridgeKathryn EberhartKathy AndersonKatie HarrellKatie PrevotKayla CookKelsey SullensKim HelmsKimberly HutchinsonKristi GallagherKyle RamsdenLauren DewlenLeanne MonterLinda DurhamLindsay AckermannLindsey VromanLissette BritoLori HardyMallory MorrisonMandi QuinnMaranda PerkinsMarisa AlvaradoMegan TeismannMeghan BlairMelissa ReedMichele KlineMike BeyerMissy McCormickMisty DickersonNancy CasteelNicole ThorntonPatrick O'ConnorPaul SulPeyton Ward-KubikRaylene CooganRegan OstranderRobbie BulusRobert ThomasSara SolbergSarah McCandlishShanna BrowningShelley BennettShelly MetzStacy CristStacy KrzyminskiStacy SmithStephanie DraganoStephanie FerencStephanie WalshSusannah McCordTara SlusserTerri MillerTiffany DobraskiTiffany DrenkhahnTina FarmerTonya LesiukTracy DaneTroy DuncanVeronica RenteriaVicki FesslerWendy CarllWendy HauserWendy KellehanWendy Shelley

Name(Required)

First Last

Email(Required)

Phone(Required)

Destination(Required)

Walt Disney WorldDisneyland ResortDisney Cruise LineAulani, A Disney Resort and SpaAulani, A Disney Resort and SpaUniversal FloridaUniversal HollywoodRoyal Caribbean, Carnival, Norwegian or other Cruise LineI don't know yet

# of Adults(Required)

# of Children(Required)

Check-in-Date(Required)

MM slash DD slash YYYY

Check-out-Date(Required)

MM slash DD slash YYYY

Comments, Questions or Special Requests

Email

This field is for validation purposes and should be left unchanged.

Δ

For the BEST in Disney, Universal, Dollywood, and SeaWorld Theme Park News, Entertainment, Merchandise & More follow us on, Facebook, Instagram, and Youtube. Don't forget to check out the Chip and Company Radio Network too!