Fox accepts Disney’s $71.3 Billion bid2 min read
Reports are coming in that The Walt Disney Company has signed an amended acquisition agreement with 21st Century Fox for $71.3 billion in cash and stock, topping Comcast’s most recent offer of $65 billion. 21CF prefers the offer over Comcast’s recent bid, stating in a press release that, “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.”
But that does not mean that everything is done and dusted. The term “accepted” may be misunderstood in this case. This doesn’t mean that Fox is now selling to Disney for $71.3 billion and everything is a done deal. All this means is that the company is officially recognizing Disney’s bid as the best offer on the table. If a better offer isn’t made, this will be the deal that moves forward. Comcast still has an opportunity to return with an even higher bid.
Although after Comcast’s recent bid of $65 Billion things looked very gloomy for the MCU fans who were hoping to see the X-Men and Fantastic Four. But now the situation is better than ever. Disney’s Chairman and Chief Executive Officer Bob Iger was quoted :
“The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox. At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.”
So, in layman’s terms, if the scenario does not change Marvel would get The X-Men and Fantastic Four back although it is unclear if Comcast would adjust their bid again so keep an eye here to know the latest info.