Dec 15, 2016
Sky and 21st Century Fox agree £18.5bn takeover deal
The BBC understands that James Murdoch, Rupert Murdoch's son who is both Sky chairman and chief executive of 21st Century Fox, met with Sky directors earlier this month. Sky deputy chairman Martin Gilbert, who is also chief executive of Aberdeen Asset Management, which owns a 0.39% stake in the broadcaster, said: "[We] believe 21st Century Fox's offer at a 40 per cent premium to the undisturbed share price will accelerate and de-risk the delivery of future value for all Sky shareholders. Chase Carey, the former chief executive of Fox Television and the current co-chief operating officer of 21st Century Fox, is a non-executive director at Sky. While John Nallen, the chief financial officer of 21st Century Fox, is also a non-executive director at Sky. 21st Century Fox plans to buy the remaining stake in Sky through a scheme of arrangement, which means it needs the approval of investors holding 75% of the shares.
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