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Fox shareholders to vote on Disney's offer on July 27

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Fox shareholders to vote on Disney's offer on July 27

Fox shareholders to vote on Disney's offer on July 27
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By Vibhuti Sharma and Carl O'Donnell

(Reuters) - Twenty-First Century Fox Inc shareholders will vote on Walt Disney Co's revised $71 billion bid for Fox's entertainment assets on July 27, the companies said.

The shareholder vote effectively sets a deadline for Comcast Corp to come back with a higher bid for Fox if it wishes to continue its bidding war for the media company.

Fox had originally scheduled its shareholder vote for July 10, but delayed it in order to give shareholders more time to review its revised agreement with Disney.

Disney raised its bid from around $52 billion in stock to $71 billion in cash and stock after Comcast earlier countered with a $65 billion all-cash bid.

Earlier this week, Disney won U.S. Justice Department approval for its deal with Fox on condition it sell 22 of Fox's regional sports networks.

Comcast has filed for a regulatory review but has not yet reached a settlement with regulators.

Disney shareholders will also vote on the deal on the same day.

(Reporting by Vibhuti Sharma in Bengaluru and Carl O'Donnell in New York; Editing by Leslie Adler)

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