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Comcast Boosts Cash Offer for Sky

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9/24/2018
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LONDON and PHILADELPHIA, Pa. -- Comcast Corporation (Nasdaq: CMCSA) (“Comcast”) today published an announcement containing the terms of a second increased superior cash offer for the entire issued and to be issued share capital of Sky plc (“Sky”) at £17.28 per share (the “UK Second Increased Offer Announcement”). This implies a value of $40.0 billion (£30.6 billion) for the fully diluted share capital of Sky. The announcement follows the conclusion of an auction process in relation to Sky in which Comcast prevailed with the highest offer price.

Comcast is pleased with the outcome of the auction and is excited by the opportunities that a combination of Sky and Comcast will bring to shareholders and consumers. Sky’s Independent Committee has unanimously recommended Comcast’s superior cash offer and urged its shareholders to accept immediately. The offer, which opened on July 13, remains open for acceptances by Sky shareholders until 1:00 p.m. (London time) on October 11, 2018.

Comcast has committed financing available to satisfy the full cash consideration payable to Sky shareholders under the terms of the acquisition. Comcast has received all required regulatory approvals to complete the acquisition.

Comcast published an offer document containing full terms and conditions of Comcast’s offer for Sky and the procedure for its acceptance on July 13, 2018. A revised offer document containing the second increased cash offer will be published and posted by no later than September 27, 2018 and will be available on Comcast’s website at www.cmcsa.com/proposal-for-sky. The acquisition is being implemented by Comcast Bidco Limited, an indirect wholly-owned subsidiary of Comcast.

Comcast Corp. (Nasdaq: CMCSA, CMCSK)

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