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Rupert Murdoch’s Fox and rival Comcast must table new bids this weekend in rare auction

The British broadcaster Sky will be auctioned off this Saturday in a dramatic end to a two-year £26bn takeover battle that has pitted Rupert Murdoch’s 21st Century Fox against the US media company Comcast.

The Takeover Panel, which regulates bids for British listed companies, has ordered a rare auction that will allow Fox and Comcast to make new bids for the broadcaster. Both companies have made already offers for Sky but so far neither has declared it will not go higher, prompting the highly unusual showdown. A statement on the final bids is expected on Saturday evening, with the eventual winner due to be confirmed by 7am next Monday before the markets open.

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from US news | The Guardian https://ift.tt/2MMVS2J