UK Clears 21st Century Fox To Buy Sky

Daniel Fowler
July 16, 2018

Health care and industrial companies are also higher. Software company CA is soaring after chipmaker Broadcom agreed to buy it for $18.9 billion. Its last record came on June 20.

Sky shares closed down 0.6 percent at 15.35 pounds.

Other technology companies also climbed. The euro rose to $1.1679 from $1.1674. Defense contractors climbed after President Donald Trump advocated for more defense spending in the US and Europe. Ives says the average Netflix user spends 10 hours a week watching its content, with five hours per week going each to Hulu and Amazon.

Mr Trump continued to criticise other North Atlantic Treaty Organisation members at the group's summit in Brussels. Trump tweeted about a 4 percent target, which is more than the US now spends.

CVS Health rose 1 percent to $67.99 and Aetna gained 1.9 percent to $191.09 after Bloomberg News reported that the Department of Justice won't try to stop CVS from buying Aetna.

Comcast Corp. (CMCSA.O) increased its takeover bid for Sky Plc, topping an offer from Rupert Murdoch's 21st Century Fox Inc.

Murdoch already owns 39 percent of Sky, which he helped to launch.

Both firms recommended that Fox shareholders vote in favor of the transaction during a July 27 investor meeting, with Glass Lewis arguing that Disney offered "a unique, prospectively far-reaching opportunity" to capitalise on the acquisition.

Sky's stock rose 3.4 percent in London.

To remedy this, Fox has proposed to sell the rolling TV news channel to Disney should it win full control of Sky. Disney gained 0.6 percent to $108.65. "We are thinking about growth and value creation", he said.

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The man broke free and ran from the officers, who believed "he appeared to be reaching for a weapon" and shot him, he said. Chicago Police Patrol Chief Fred Waller admitted the situation " got a little out of hand " as four people were arrested.

Stock indexes overseas recovered a piece of their losses Thursday.

Benchmark U.S. crude dipped 0.1 percent to $70.33 a barrel in NY while Brent crude, used to price worldwide oils, rose 1.4 percent to $74.45 per barrel in London. Seoul's Kospi added 0.2%.

"The stock market continues to believe that the victor of the Sky takeover battle will pay more than has now been offered", noted Russ Mould, investment director at AJ Bell.

USA crude dropped 5% on Wednesday and Brent nosedived nearly 7% as investors anxious that the trade conflict will hurt the global economy. They started the year at about £10.

Wholesale gasoline added 0.5% to $2.07 a gallon.

Papa John's worldwide jumped 11% to 53.67 dollars as founder John Schnatter resigned as chairman after confirming a report that he had used a racial slur during a conference call in May.

Stifel analyst Christopher Cull said Wall Street has viewed the company as a potential sale target for some time and investors feel that's more likely without Schnatter in charge. But since Schnatter is still is largest shareholder, Cull doesn't think that will happen.

The idea is that if a target company's ownership is split, and a would-be acquirer bids on one portion of the target, the implied value of the portion of the company that received the takeover offer must be carried over to fairly value the rest of the company.

Gold rose 0.2% to 1,246.60 dollars an ounce.

Bond prices ticked higher.

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