News Corp. Offers To Buy Remainder of Fox
News Corporation today offered to acquire all of the Class A common shares of Fox Entertainment that it does not already own. Under the terms of the exchange offer, holders of Fox Class A common stock would receive 1.90 shares of News Corp.’s Class A common stock for each outstanding share of Fox Class A common stock. Based on the current prices, News Corp. estimates that the offer represents a 7% premium over Fox’s January 7 closing price.
[Source: Business Wire]