How Are Sky Shareholders Gaining from the Bidding War?
The stock of London-based Sky hit an 18-year high on Thursday after Twenty-First Century Fox (FOXA) and Comcast (CMCSA) both upped their bids to buy a 61% stake in Sky. The stock rose to 15.41 pounds that day and closed ~2.7% higher at 15.34 pounds after Comcast valued the company at ~26 billion pounds (or $35 billion). Sky stock has gone up 95% since Fox made its first bid of $15.5 billion in December 2016.