A&O and HSF take lead roles as 21st Century Fox tunes in on anticipated Sky takeover

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.

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