Disney is reportedly set to increase its $52.4 billion bid for 21st Century Fox to fend off Comcast.
CNBC reports Disney is prepared to add cash to its all-stock offer to win the bidding, however, the exact amount is not known. Last week, Comcast made an estimated $65 billion bid for Fox’s assets after its offer last year was rejected due to antitrust concerns.
Fox will be holding a shareholders meeting this Wednesday, according to CNBC, to determine the Disney deal and discuss Comcast’s offer. If the board decide Comcast’s bid is superior, Disney would then have five days to match the $65 billion offer.
Source: IGN.com Disney to Reportedly Increase Its Fox Bid Following Comcast Offer