The UK’s Takeover Panel has confirmed an earlier ruling that the Walt Disney Company will have to offer at least £14 per share to secure Sky.
Such an offer would only be enforced once Disney completes its offer to buy 21st Century Fox before either Fox or rival Comcast succeeds in its own bid for the European pay-TV operator.
Fox already owns a 39% stake in Sky.
The panel’s decision was originally made on July 13, but subsequently it has held a number of hearings after several parties appealed.
