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Notices
2010-06-15 12:53:44
Rupert Murdoch BSkyB takeover?
Rupert Murdochs News Corporation has made a bold approach to take full control of BSkyB (LSE: BSY.L - news) , the satellite broadcaster in which it owns a 39pc stake.
The takeover approach, made last week, valued Sky at around £12bn. It was rebuffed by the Sky board for deeply undervaluing the company.
One insider said: There is still a meaningful gap between the two companies in terms of price.
News Corp reacted by threatening to walk away from the putative deal. Sky and its advisers were last night still considering the companys options. BSkyB is being advised by Morgan Stanley (NYSE: MS - news) and UBS (Virt-X: UBSN.VX - news) .
Sky is understood to be examining a Plan B strategy should the two sides fail to agree on price, including the possibility of temporarily putting the deal on ice.