21st Century Fox withdrew its proposal to acquire...
21st Century Fox withdrew its proposal to acquire Time Warner, it said. Time Warner “refused to engage with us to explore an offer which was highly compelling,” 21st Century Fox CEO Rupert Murdoch said Tuesday in a news release (http://bit.ly/XBlgiC).…
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21st Century Fox offered Time Warner about $80 billion (CD July 17 p12). The reaction in the share price for 21st Century Fox since the proposal was offered “undervalues our stock and makes the transaction unattractive to Fox shareholders,” he said. The 21st Century Fox board authorized on Tuesday a $6 billion share repurchase program, he said.