Dec 9 Sky Plc :
* Possible offer for Sky Plc by Twenty-First Century Fox,
* Independent directors of Sky and 21st Century Fox have
reached agreement on an offer price of £10.75 per share in cash,
less value of any dividends subsequently paid by sky
* Independent directors, who have received financial advice
from Morgan Stanley, PJT Partners and Barclays, have indicated
to 21st century fox that they are willing to recommend proposal
to sky shareholders, subject to reaching agreement on other
* Proposal represents a premium of 40 pct to closing price
on 6th december, being last business day prior to initial
proposal being received from 21st century fox
* Sky has formed an independent committee of board (
"independent committee") to consider terms of proposal.
* 21St Century Fox is required to clarify its intentions by
no later than 5.00pm on Friday 6th January 2017 by either
announcing a firm intention to make an offer or that it does not
intend to make an offer
* Possible offer for Sky Plc by 21st Century Fox Inc
* Announce that sky has received an approach from 21st
century fox, inc.
* Certain material offer terms remain under discussion and
there can be no certainty that an offer will be made by 21st
Century Fox, nor as to terms of any such offer.
* Proposal represents a premium of 36 pct to closing price
on 8th december, being last business day prior to this
* Discussions are continuing and a further announcement will
be made in due course as appropriate.
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