Fox Corporation’s reported Roku deal spread was $2.06 on Oct. 21, down $1.31 from Oct. 20, while regulatory approvals remain among the conditions for the proposed merger to close.
Under the proposed terms, each Roku share would be exchanged for $96 in cash and 0.9693 shares of Fox Class A common stock if the transaction closes, the joint proxy statement/prospectus filed with the SEC says. The stock portion’s value would move with Fox Class A’s market price.
Roku shareholders approved the merger agreement and Fox Class B shareholders approved the stock issuance proposal on Oct. 14, according to Roku’s filing and Fox’s filing. Regulatory approvals and other conditions must still be met for the deal to close.
EconoTimes previously reported on Bank of America’s Fox upgrade and deal-synergy rationale.
