Fox posts offer doc for Sky buyout

|By:, SA News Editor

Twenty-First Century Fox (FOX +0.2%, FOXA +0.4%) has posted an offer document for its £14/share lagging bid for the rest of Sky (SKYAY +0.3%).

That offer still trails a front-runner bid from Comcast (CMCSA +0.4%), for £14.75/share.

Fox's new document pursues the deal as a takeover offer rather than scheme of arrangement; it's conditional on a 75% approval from Sky shareholders.

Sky says its independent committee would respond to the offer within 14 days, Reuters notes.

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