Fox Corporation (FOXA) to Acquire Roku for $22 Billion Deal
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowFox Corporation (FOXA) has agreed to acquire Roku (ROKU) for $160 per share, valuing the streaming platform at approximately $22 billion. The transaction involves $96 in cash and 0.9693 shares of Fox Class A common stock per Roku share, a premium of 11.4% over Roku's last closing price. The deal is set to be funded through new debt and cash, with $12 billion in bridge financing secured by Morgan Stanley. Upon completion, Fox shareholders are expected to hold 73% of the combined entity, with significant anticipated cost synergies of approximately $400 million by the second year after closing.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Fox Corporation (Class A) (FOXA)
Fox Corporation is a media company operating Fox News, Fox Sports, and the Fox broadcast network. Class A shares (FOXA) carry voting rights.
The Communication Services sector covers media, entertainment, telecom and interactive companies that connect and inform people.
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