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21st Century Fox tables takeover bid for Sky PLC

(c) Sky News 2016: <a href="http://news.sky.com/story/21st-century-fox-tables-takeover-bid-for-sky-plc-10689526">21st Century Fox tables takeover bid for Sky PLC</a>

US media company 21st Century Fox has tabled a takeover bid for Sky PLC (Frankfurt: 893517 - news) .

"The Independent Directors of Sky PLC note today's share price increase, and announce that Sky has received an approach from 21st Century Fox, Inc," the company, the owner of Sky News, said in a statement.

"After a period of negotiation, the Independent Directors of Sky and 21st Century Fox have reached agreement on an offer price of £10.75 per share in cash, less the value of any dividends subsequently paid by Sky.

"However, certain material offer terms remain under discussion and there can be no certainty that an offer will be made by 21st Century Fox, nor as to the terms of any such offer."

Shares (Berlin: DI6.BE - news) in Sky were up 32% to 1040 on news of Fox's interest.

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