UK broadcaster Sky has advised its shareholders to accept Comcast's offer for a £30.6 billion takeover.
US cable giant Comcast outbid its rival twenty-first century fox in a three-round auction process. Comcast's final bid was £17.28/share while Fox, which already owns 39% in sky, offered £15.67.
Comcast's offer provides a premium of 125% to Sky's closing price of £7.69 as of December 2016, when the takeover saga started.
Comcast has given Sky shareholders until October 11 to accept the offer. The Sky management has described it as 'an excellent outcome for independent Sky shareholders'
The London-listed group has a subscription base of 23 million.