Some of the biggest names in dealmaking in New York and London are duking it out as part of the Comcast-Fox-Sky bidding war
Comcast has officially made a £26 billion (about $34 billion) bid for the European broadcasting company Sky.
21st Century Fox, which owns 40% of Sky, has been trying to buy the remaining stake since the end of 2016 but faced numerous regulatory hurdles.
The deal pits some of the sharpest minds in global mergers and acquisitions against one another, with the three sides represented by some of the biggest names on Wall Street and in London.
Blair Effron. Jennifer Nason. John Waldron. Simon Robey. Roger Altman.
They’re some of the biggest names in global mergers and acquisitions — people who’ve worked on trillions of dollars’ worth of deals on both sides of the Atlantic.
And now, thanks to a bidding war for the European broadcast company Sky, they’re working alongside and opposite one another.
The US entertainment giant Comcast increased its bid for Sky Wednesday evening, gate-crashing Rupert Murdoch’s takeover attempt for the broadcaster. Comcast’s newest offer came in at £14.75 per share, valuing Sky at £26 billion ($34 billion) up from it’s previous offer of £22 billion.
Earlier on Wednesday, Rupert Murdoch’s 21st Century Fox bid £14 a share for Sky.
Fox’s offer is pending UK government approval from culture secretary Jeremy Wright, while Comcast has already received approval. Comcast said its bid had the backing of Sky’s independent directors.
The three companies each have a phalanx of investment bankers advising on the potential transaction. Here’s what you need to know about them:
Sky’s taking advice from Morgan Stanley, PJT Partners, and Barclays.
The Morgan Stanley team is led by Simon Smith, a Morgan Stanley veteran who’s the head of investment banking in Europe.
Laurence Hopkins, another longtime Morgan Stanley banker, is also on the team along with Anthony Zammit, a junior banker based in London who last year worked on a takeover bid for the …read more
Source:: Business Insider