Shareholders of the Walt Disney Company and 21st Century Fox Inc. gave approval on Friday morning for Disney's acquisition of Fox's entertainment assets, excluding the stake in British-based Sky plc. The purchase is valued at $71.3 billion in cash and stock, or $38 per share, up from the initial offer of $28 per share from last December.
Earlier in the month, Comcast gave up on its bid for Fox, leaving Disney as the only contender. However, Comcast's $34 billion bid for Sky assets is still pending.
On June 27, the Justice Department gave antitrust approval to Disney to acquire Fox, under the condition that it sells the 22 sports regional networks belonging to the New York-based media company. Before that, the two entertainment giants agreed on an "amended and restated" merger deal.
