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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Twenty-First Century Fox    FOXA

TWENTY-FIRST CENTURY FOX (FOXA)
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Twenty First Century Fox : Sky investor Crispin Odey says he now opposes Fox takeover

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11/07/2017 | 02:47pm CEST
The Twenty-First Century Fox Studios logo is seen in Los Angeles

LONDON (Reuters) - Veteran hedge fund manager Crispin Odey now opposes Twenty-First Century Fox’s (>> Twenty-First Century Fox) 11.7 billion pound ($15.4 billion) bid to take control of British pay-TV broadcaster Sky (>> Sky) in a move that could raise further doubts about the deal.

LONDON (Reuters) - Veteran hedge fund manager Crispin Odey now opposes Twenty-First Century Fox’s (>> Twenty-First Century Fox) 11.7 billion pound ($15.4 billion) bid to take control of British pay-TV broadcaster Sky (>> Sky) in a move that could raise further doubts about the deal.

Odey, whose firm is Sky’s 17th biggest investor with a 0.9 percent stake, according to Thomson Reuters data, believes that Fox’s 10.75 pound-a-share bid "starts to look like it's not a very good price" for the broadcaster.

"I'd vote against the deal," Odey told Reuters, when asked how he would vote on the offer. He added: "The interesting thing is: can Sky survive happily without Fox? I think it can quite happily."

Odey initially said he backed the Fox bid to acquire the 61 percent of Sky that it does not already own, which was first announced in December.

However, in August he told Reuters that he thought the offer was beginning to "look rather mean", although he did not say at the time that he would oppose the takeover.

(Reporting by Ben Martin; editing by Jason Neely)

Stocks treated in this article : Sky, Twenty-First Century Fox
Stocks mentioned in the article
ChangeLast1st jan.
SKY 0.17% 1729 Delayed Quote.70.55%
TWENTY-FIRST CENTURY FOX -0.47% 45.59 Delayed Quote.31.83%
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Financials ($)
Sales 2019 31 833 M
EBIT 2019 6 731 M
Net income 2019 3 879 M
Debt 2019 8 924 M
Yield 2019 0,96%
P/E ratio 2019 22,40
P/E ratio 2020 19,67
EV / Sales 2019 2,94x
EV / Sales 2020 2,72x
Capitalization 84 563 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 50,2 $
Spread / Average Target 9,5%
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Managers
NameTitle
James Rupert Murdoch Chief Executive Officer & Director
Lachlan Keith Murdoch Executive Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
John P. Nallen Chief Financial Officer & Senior Executive VP
Paul Cheesbrough Chief Technology Officer
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