COMCAST CORP acquired Sky plc for GBP 17.28 per share, implying approximately $40.0 billion (GBP 30.6 billion) for the fully diluted share capital; initial close covered ~39.12% for GBP 11.6 billion, a transaction completed in October 2018, structured as all cash (recommended mandatory superior cash offer).
Sky plc operates in Sky, is based in United Kingdom (Sky also operates in Italy and Germany). Following a UK auction process against Twenty-First Century Fox, Comcast announced terms of an increased superior cash offer for Sky plc at GBP 17.28 per share, implying a value of approximately $40.0 billion (GBP 30.6 billion) for Sky's fully diluted share capital. On October 9, 2018 Comcast Bidco Limited, an indirect wholly-owned subsidiary, completed the acquisition of 672,783,139 ordinary shares (approximately 39.12% of Sky) for GBP 17.28 per share (GBP 11,625,692,641.92 in aggregate), with the offer declared unconditional as to acceptances and wholly unconditional, beginning the process to take Sky to full ownership.
Recommended mandatory superior cash offer for Sky unconditional as to acceptances and wholly unconditional; commencement of 20 business day notice period for the cancellation of listing.
Adds a leading European direct-to-consumer pay-TV and streaming platform to Comcast's content and distribution portfolio. Sky
On October 9, 2018, Comcast Bidco Limited, an indirect wholly-owned subsidiary of Comcast Corporation, completed its previously announced acquisition of 672,783,139 ordinary shares of Sky plc (representing approximately 39.12% of the issued ordinary share capital of Sky) for GBP 17.28 per share, or GBP 11,625,692,641.92 in the aggregate.Comcast Corporation Form 8-K, Item 2.01, October 9, 2018
Advisory firms were not disclosed for this transaction.