Disney, Fox set March 20 closing for $71B media-asset deal
Mar. 12, 2019 9:11 AM ET|About:
The Walt Disney Company (DIS)|By:
Jason Aycock, SA News Editor
Walt Disney (NYSE:
DIS) and Twenty-First Century Fox (
FOX) have set an
anticipated closing of March 20 just after midnight for their transformative $71B media-asset deal.
The companies said they expected Fox to distribute all issued and outstanding common shares of Fox Corp. to the 21CF shareholders at about 8 a.m. ET on March 19 on a pro rata basis, and that the acquisition (in which Disney gets Fox's entertainment assets) would then be effective at 12:02 a.m. ET on March 20.
The deadline for holders of 21CF common stock to elect the form of consideration they wish to receive in the acquisition will be 5 p.m. ET on March 14.
Premarket:
DIS +0.1%;
FOX +0.1%;
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