Report
Allan C. Nichols
EUR 101.80 For Business Accounts Only

Comcast Proposes to Acquire Sky for GBX 1,250 per Share; Raising Our Sky FVE Estimate to GBX 1,240

On Feb. 27, Comcast proposed to offer GBX 1,250 per share to buy Sky, which is a 16% premium to 21st Century Fox’s agreed offer. Comcast’s proposal is not a formal offer, but allows Comcast to discuss the offer with regulators and financiers. With this proposal, we believe Fox will need to increase its offer. However, with Fox already owning 39% of Sky it just needs to attract an additional 11% of the vote and has already traveled through most of the regulatory process, while Comcast needs to at...
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Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allan C. Nichols

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