Comcast £22.1 billion bid for Sky

Overview:

• Comcast has made a £22.1 billion bid for Sky.
• Under the terms of the bid, Sky shareholders would receive £12.50 in cash for each share, with the deal structured as a tender offer with a 50% plus one share acceptance condition
• The US company's bid challenges bids made by 21 Century Fox and Disney.
• Sky is the UK's biggest pay-TV company.
• Merrill Lynch Pierce Fenner & Smith and Wells Fargo Securities have acted as lead arrangers on the term loan and bridge financings related to Comcast's offer.

Sam Duke