Disney, Fox Set July 10 Shareholder Votes on $52.4B Deal
But Fox says it "may postpone or adjourn" its shareholder meeting in Manhattan in case Comcast goes ahead with a competing offer or the like.
Walt Disney and 21st Century Fox on Wednesday set July 10 shareholder votes in New York for their $52.4 billion deal, in which Disney would acquire large parts of Fox, including the 20th Century Fox studio, Fox's entertainment cable networks and its international assets, including its stake in Sky.
But cable giant Comcast's May 23 statement that, after being rejected in its attempt to buy the Murdoch family-led Fox in late 2017, it was preparing a "superior" all-cash bid for the same parts of Fox, rather than the all-stock deal that Disney struck, could affect that date.
Fox said Wednesday it was "aware of the press release" from Comcast, adding: "Under the Disney merger agreement, if any event occurs that 21st Century Fox determines, after consultation with outside legal counsel, is reasonably likely to require under applicable law the filing or mailing of any supplemental or amended disclosure, 21st Century Fox may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting."
Disney's special shareholder meeting on the deal Wednesday was set for 10 a.m. ET on July 10 at the New Amsterdam Theatre in midtown Manhattan. Fox's meeting was set for the same time at the nearby New York Hilton Midtown.
Disney is led by chairman and CEO Bob Iger and Fox by co-executive chairs Rupert and Lachlan Murdoch and CEO James Murdoch.