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Sky Surges After Improved Comcast Approach as Bidding War With Fox Intensifies

Martin Baccardax

Comcast said last Wednesday that it will pay £14.75 per share for Sky, which is 39% owned by Fox, in a bid that tops its prior £12.50 approach and trumps the improved £14 per share bid the Rupert Murdoch-controlled group which was announced only yesterday. Comcast's bid values Sky at $34 billion, just ahead of the $32.5 billion bid from Fox, while both companies claim to have the inside track in regulatory approval from authorities in the U.K. and the European Union.