Hedge fund shareholders of Sky including Polygon Global Partners LLP had called for a mandatory bid for Sky by Disney at a higher price than the Fox offer. Photo: APLondon: Walt Disney Co. must make an offer for Sky Plc if its $52.4 billion purchase of most of 21st Century Fox Inc. succeeds, the UK Takeover Panel ruled. The decision may disappoint some Sky shareholders expecting Disney to be forced into a higher mandatory offer. Hedge fund shareholders of Sky including Polygon Global Partners LLP had called for a mandatory bid for Sky by Disney at a higher price than the Fox offer. While the Takeover Panel only requires a £10.75 per share bid from Disney, the company will have to offer much more to take on Comcast, Odey said.

Source: Mint April 12, 2018 12:00 UTC