Proactive Investors - Run By Investors For Investors

Fox stock seen higher on rumours Comcast may return with new approach

Disney's takeover has yet to be completed, whereas the WSJ suggested Comcast may return with a new approach
21st Century Fox logo
Comcast had pitched its previous approach at a premium to Disney

Twenty-First Century Fox Inc (NASDAQ:FOX) stock was moving higher in Monday’s premarket dealing as reports emerged suggesting that Comcast Corporation (NASDAQ:CMCSA) is considering a fresh takeover approach.

Comcast had been rejected in a previous tilt, even though the approach was pitched considerably higher than the rival The Walt Disney Co (NYSE:DIS) bid.

READ: Walt Disney confirms deal to buy most of 21st Century Fox's assets

The cable and communications group’s offer was at around the low US$60mln range, according to a Wall Street Journal report, whereas Disney’s bid was at US$52.4bn, but, was declined due to the potential for anti-trust complications.

The WSJ claimed that whilst the takeover by Disney is still to close, Comcast has not decided whether or not it will make a new approach.

View full FOXA profile View Profile

21st Century Fox Timeline

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use