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Article: FEG Shareholders Likely to Take Offer; Wall Street Analysts' Advice: Take News Corp. Bid Before It's Withdrawn.(Deals)(Fox Entertainment Group)
- Article from:
- TelevisionWeek
- Article date:
- January 17, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jay Sherman
Despite receiving static from some Fox Entertainment Group shareholders unhappy with the offer made by Rupert Murdoch's News Corp. to purchase outstanding Fox shares, Wall Street analysts are betting the deal will be completed-and that the media giant won't have to sweeten its bid to get it done.
Some investors have balked at News Corp.'s exchange offer, which amounts to $33.54 a share, or a 7 percent premium over the Jan. 7 close price, calling it inadequate. One group of shareholders filed a class-action lawsuit immediately following the Jan. 10 announcement by News Corp. that it was going to buy the nearly 18 percent stake in Fox ...