“Hours before their asset combination closes, Disney and Fox released the per-share value of the deal and offered a final blessing by Disney CEO Bob Iger, who called the deal ‘an extraordinary and historic moment for us,'” Deadline reports.
The report adds: “Disney’s $71 billion acquisition of most of 21st Century Fox becomes official at 12:02AM ET. Today, the slimmed-down, TV-centric concern officially known as Fox Corp. began trading on the NASDAQ, slipping 3% in its first outing.”
Following the close of trading today, the companies announced that the per-share value of the merger will be $51.572626.
“That means each share of 21st Century Fox common stock will be exchanged for $51.572626 in cash or 0.4517 shares of common stock of the holding company that will own both Disney and the Fox assets being acquired,” Deadline reports, adding: “Disney’s stock price, which was steady through the day, plunged in the final hour of trading to finish at $110, down nearly 3%. It has largely remained steady in the months since Disney and Fox shareholders approved the transaction last July 27.”
Iger, the chairman and chief executive officer of The Walt Disney Co., is quoted saying: “This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders. Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”