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NEWS
Disney turns down takeover bid as Muppets move in
POSTED 18 Feb 2004 . BY
Shares in entertainment giant, Disney, have been buoyant since the board of directors turned down a hostile takeover bid from US cable group, Comcast.

The battle for ownership now looks to head into a drawn out battle, as the board decided unanimously to back chief executive, Michael Eisner, despite calls for his head from influential former vice-chairman, Roy Disney.

As news of the turndown came through, Comcast played down the prospects of a higher bid, saying it is ‘uninterested in acquiring Disney at current market values’.

Comcast offered 0.78 of a Comcast share for each Disney share and the deal was initially worth $54bn (£28bn) – but has since reduced to $48bn (£25.1bn) due to the slide in Comcast shares and the rise in Disney’s value.

Disney claimed earlier this week that the offer is now $3.60 per share less than the current value of its stock.

As the markets closed in New York yesterday, Comcast’s shares were worth $30.79 – up 89 cents – while Disney closed marginally down at $26.88.

Disney also announced that it had finalised a deal to acquire the popular Muppets characters yesterday, after having been interested in buying them since 1990.

Disney obtained the TV and film rights of the puppets after the children of their creator, the late Jim Henson, agreed to sell the rights for an undisclosed sum. Details: www.disney.com or www.muppets.com

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NEWS
Disney turns down takeover bid as Muppets move in
POSTED 18 Feb 2004 . BY
Shares in entertainment giant, Disney, have been buoyant since the board of directors turned down a hostile takeover bid from US cable group, Comcast.

The battle for ownership now looks to head into a drawn out battle, as the board decided unanimously to back chief executive, Michael Eisner, despite calls for his head from influential former vice-chairman, Roy Disney.

As news of the turndown came through, Comcast played down the prospects of a higher bid, saying it is ‘uninterested in acquiring Disney at current market values’.

Comcast offered 0.78 of a Comcast share for each Disney share and the deal was initially worth $54bn (£28bn) – but has since reduced to $48bn (£25.1bn) due to the slide in Comcast shares and the rise in Disney’s value.

Disney claimed earlier this week that the offer is now $3.60 per share less than the current value of its stock.

As the markets closed in New York yesterday, Comcast’s shares were worth $30.79 – up 89 cents – while Disney closed marginally down at $26.88.

Disney also announced that it had finalised a deal to acquire the popular Muppets characters yesterday, after having been interested in buying them since 1990.

Disney obtained the TV and film rights of the puppets after the children of their creator, the late Jim Henson, agreed to sell the rights for an undisclosed sum. Details: www.disney.com or www.muppets.com

MORE NEWS
Excurio and The Muséum National d'Histoire Naturelle create evolutionary VR experience
Virtual reality creators Excurio has teamed up with experts from The Muséum National d'Histoire Naturelle to create Life Chronicles London, a free-roaming VR experience.
The Park Playground opens first immersive VR franchise in Porto
The Park Playground, has opened its first Immersive VR franchise in Porto, Portugal.
Bridgerton Season three – most Instagrammed locations
Following the release of season three Of Bridgerton, a study reveals its ten most Instagrammable filming locations.
Getty Museum refuses to surrender prized Greek bronze to Italy
The European Court of Human Rights has recognised Italy’s claim to a prized Greek antiquity.
Merlin unveils record-breaking Hyperia coaster at Thorpe Park
Merlin Entertainments has launched its new Hyperia rollercoaster at Thorpe Park to celebrate its 45th year.
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Live action video game experience Chaos Karts has launched in a 15,000sq ft arena in Al Quoz, Dubai.
+ More news   
 
COMPANY PROFILES
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
QubicaAMF UK

QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [more...]
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. With the Indoor snow division, TechnoAlpin c [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-05 Sep 2024

ASEAN Patio Pool Spa Expo

IMPACT Exhibition Center, Bangkok, Thailand
03-08 Sep 2024

Spa Peeps International Corporate Cruise

Cruise London, Amsterdam, Zeebrugge, United States
+ More diary  
 


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Tel: +44 (0)1462 431385

©Cybertrek 2024

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