UK's Takeover Panel Says Sky Auction To Take Place On Sept. 22 [Reuters]
SKY PLC AMERICAN DEPOSITARY REALTY (SKYAY)
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skygroup.sky/corporate/investors/shareholder-centre
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Source: Reuters
Sky PLC (SKYAY.PK) Key Developments | Reuters.com Sept 20 (Reuters) - UK's Takeover Panel::AUCTION PROCEDURE UNDER RULE 32.5.AUCTION PROCEDURE FOR SKY WILL CONSIST OF A MAXIMUM OF THREE ROUNDS WHICH WILL ALL TAKE PLACE ON 22 SEPTEMBER 2018.PANEL EXECUTIVE ESTABLISHED AUCTION PROCEDURE FOR SKY EXPECTED TO START AT 5.00PM ON SEPT. 21 AND END DURING EVE OF SEPT. 22.AUCTION PROCEDURE FOR SKY WILL CONSIST OF A MAXIMUM OF THREE ROUNDS WHICH WILL ALL TAKE PLACE ON 22 SEPTEMBER 2018.IN FIRST ROUND, ONLY OFFEROR WITH LOWEST OFFER AS AT THE COMMENCEMENT OF SKY AUCTION MAY MAKE AN INCREASED BID.IN 2ND ROUND OF SKY AUCTION BID, ONLY OFFEROR THAT WAS NOT ELIGIBLE TO MAKE BID IN 1ST ROUND MAY MAKE INCREASED BID.IF SKY AUCTION PROCEDURE NOT OVER AFTER 2ND ROUND, THERE WILL BE FINAL ROUND WHERE BOTH OFFERORS MAY MAKE INCREASED BID.PANEL EXECUTIVE RESERVES DISCRETION TO AMEND SKY AUCTION PROCEDURE AS APPROPRIATE.SKY, COMCAST, FOX, WALT DISNEY HAVE AGREED TO TERMS OF SKY AUCTION PROCEDURE AND TAKEOVER
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