Disney and Fox have finally rescheduled their vote on the proposed merger/acquisition for July 27th. The previous July 10th meeting was canceled when Disney upped their bid to beat the new $65 billion offer from Comcast.
This meeting announcement comes one day after federal regulators approved the proposed acquisition of Fox by Disney. Currently, Disney’s bid for 21st Century Fox stands at $71.3 billion and is a 50/50 split of stock and cash.
A “yes” vote from shareholders of Disney and Fox would not finalize the deal but would prove to be yet another hurdle for Comcast to overcome. Comcast currently has a $65 billion all-cash bid outstanding that Fox has called “inferior” to the Disney bid.
Be sure to check out our timeline of the Fox acquisition saga where we’ve outlined the full history of the sale since Disney submitted their first bid in December.