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Rupert Murdoch said to have made offer for Time Warner- The New York Times


Tuesday, 15 Jul 2014 08:00pm EDT 

Time Warner Inc:21st Century Fox, run by Rupert Murdoch, made an $80 billion takeover bid for Time Warner Inc. but was rebuffed - The New York Times.21st Century Fox approached Time Warner in early June.21st Century Fox delivered a formal takeover proposal worth $85 in stock and cash for each Time Warner share.Bid amounted to a roughly 25 pct premium to Time Warner’s stock price.21st Century Fox indicated it would pay 60 pct of the price in stock and 40 pct in cash.Time Warner’s board discussed the proposal at length, the people briefed said, and early this month it sent a terse letter rejecting the offer, saying the company was better off remaining independent. 

Company Quote

77.8
0.42 +0.54%
19 Sep 2014