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4-Traders Homepage  >  Equities  >  Nyse  >  Walt Disney Company (The)    DIS

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Takeover Panel Panel Statement regarding announcement by Disney

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12/14/2017 | 01:35pm CET

TIDMSKY

RNS Number : 3902Z

Takeover Panel

14 December 2017

2017/23

the walt disney company ("disney")

Twenty-first century fox inc. ("21st CENTURY FOX")

sky plc ("sky")

The Panel Executive notes the announcement earlier today by Disney of its definitive agreement to acquire 21st Century Fox, after a spin-off of certain businesses (the "Acquisition"). That announcement does not alter 21st Century Fox's obligations under the Takeover Code with respect to its existing pre-conditional offer for Sky announced on 15 December 2016.

Separately, Disney has informed the Executive that it does not believe that completion of the Acquisition should trigger a mandatory bid obligation under Note 8 on Rule 9.1 of the Takeover Code (the "chain principle") upon Disney as a result of 21st Century Fox's stake of approximately 39% in Sky.

In accordance with its usual practice, the Executive will seek the views of the independent directors of Sky before reaching a determination on this issue.

A further announcement will be made in due course in relation to the chain principle.

14 December 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

POTOKQDDBBDDABD

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Financials ($)
Sales 2018 58 589 M
EBIT 2018 15 157 M
Net income 2018 9 562 M
Debt 2018 19 956 M
Yield 2018 1,52%
P/E ratio 2018 17,66
P/E ratio 2019 16,54
EV / Sales 2018 3,23x
EV / Sales 2019 3,15x
Capitalization 169 B
Chart WALT DISNEY COMPANY (THE)
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Walt Disney Company (The) Technical Analysis Chart | DIS | US2546871060 | 4-Traders
Technical analysis trends WALT DISNEY COMPANY (THE)
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 116 $
Spread / Average Target 3,2%
EPS Revisions
Managers
NameTitle
Robert A. Iger Chairman & Chief Executive Officer
Christine M. McCarthy Chief Financial Officer & Senior Executive VP
John S. Chen Independent Director
Robert W. Matschullat Independent Director
Aylwin B. Lewis Independent Director
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