Some analysts believe Rupert Murdoch may sweeten 21st Century Fox’s bid for Time Warner, after its initial $85 per-share proposal was turned down, reports the Los Angeles Times’ Company Town.
An offer could reach $100 per share, pricing the deal at $91 billion, according to some analysts.
“We believe this transaction makes strategic and financial sense — even at $100 a share," Wells Fargo media analyst Marci Ryvicker wrote in a research note. She added that $85 is a new “floor” for Time Warner stock.
After the offer was made public, Time Warner’s stock rose 17%, reaching $83.13 on Wednesday. Fox’s shares declined 6% to $33, although the relatively stable trading signals that "investors might be inclined to go along with Fox's acquisition plans,” the piece notes.