Fox Shareholder is Trying to Stop Disney Acquisition by Filing a Lawsuit

Most people I know are either indifferent about Disney acquiring Fox, or they’re all for it. Fox has even been urging its shareholders to vote in the affirmative later this month to approve the deal. One shareholder isn’t going to simply agree to do it though. Robert Weiss has decided that information regarding some of the projections and data underlying valuation analyses was either omitted or was misrepresented in a proxy statement filed June 28.

In short, unless remedied, 21CF’s public stockholders will be forced to make a voting or appraisal decision on the Proposed Transaction without full disclosure of all material information concerning the Proposed Transaction being provided to them.

It appears that Weiss has gotten at least a few more shareholders to agree with him and they are wanting more information regarding Hulu, Sky, and debt. In addition, concerns are being raised about the involvement of Goldman Sachs.

This is no joke as Fox is now being accused of multiple securities violations. I know many of you are hoping this is no big deal and that everything goes smoothly, but this could put a big kink in things. I actually don't blame Weiss and company for wanting more information before making a huge decision.

Source: THR

GeekTyrant Homepage