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4-Traders Homepage  >  Equities  >  Nasdaq  >  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 CET
The Twenty-First Century Fox Studios logo is seen in Los Angeles

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.

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
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Financials ($)
Sales 2018 29 982 M
EBIT 2018 6 855 M
Net income 2018 3 605 M
Debt 2018 9 537 M
Yield 2018 1,12%
P/E ratio 2018 18,98
P/E ratio 2019 16,13
EV / Sales 2018 2,57x
EV / Sales 2019 2,38x
Capitalization 67 584 M
Chart TWENTY-FIRST CENTURY FOX
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Twenty-First Century Fox Technical Analysis Chart | FOXA | US90130A1016 | 4-Traders
Technical analysis trends TWENTY-FIRST CENTURY FOX
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 38,7 $
Spread / Average Target 5,7%
EPS Revisions
Managers
NameTitle
James Rupert Murdoch Chief Executive Officer & Director
Peter Rice President
Lachlan Keith Murdoch Executive Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
John P. Nallen Chief Financial Officer & Senior Executive VP
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