Following Brexit and the devaluation of the British pound, British companies have become more interesting for companies looking to expand. U.S. based Twenty-First-Century Fox is in exploratory acquisition talks with British broadcaster Sky in could be a blockbuster deal.
As per sources familiar with the matter at hand, Twenty-First Century Fox aims to acquire British broadcaster Sky later this week.
Fox has offered Sky $13.60 a share (10.75 pounds). Both companies have agreed to press ahead with on-going discussions.
As per sources, Fox will need just 75% approval from its shareholders for the deal to go ahead. If the deal goes ahead, sources have revealed that it is very likely that Rupert Murdoch will keep Sky’s CEO Jeremy Darroch, since he wants a sense of continuity in the company.
While Sky could not be immediately available for comment, Fox declined to comment.