Rupert Murdoch's News Corp are bidding to get complete ownership of BSkyB. He currently only owns 39 percent of the company which will surprise many members of the public as he is already seen as the figurehead of BSkyB.
Earlier he bid 675p per share with the stock trading at 575p but this offer was rejected and he came back with a further offer of 700p per share. The directors of BSkyB seemingly consider this £7.8 billion offer still under their expected figure and said they would accept an offer of 800p (£8.9 billion). It would appear this is a statement to get a final figure between the two proposed price points.
“The eight Independent Directors have evaluated the proposal since receiving News Corporation's approach on 10 June. Based on careful review and advice, it is the unanimous view of the Independent Directors that there is a significant gap between the proposal from News Corporation and the value of the company,” said Nicholas Ferguson, BSkyB's senior independent non-executive director.
KitGuru says: It seems Murdoch has his heart set on complete ownership and we can see a final figure being reached soon.
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