Allen & Overy (A&O) and Herbert Smith Freehills (HSF) are lead advisers in 21st Century Fox’s takeover bid for Sky, as a ‘possible offer’ valuing the company at £18.5bn was agreed ‘in principle’ on Friday (9 December).
The cash offer values Sky shares at £10.75 each, £18.5bn in total, which is 36% more than its market close price on 8 December. 21st Century Fox already owns 39.1% of Sky, and according to reports it would pay approximately £11.25bn for full ownership.
