The Sky Plc headquarters in Isleworth, London, U.K., on Sept. 21, 2018. (Photographer: Chris Ratcliffe/Bloomberg)

Sky Recommends Comcast’s $39 Billion Sweetened Offer

(Bloomberg) -- Sky Plc’s Independent Committee recommended Comcast Corp.’s highest offer at 17.28 pounds per share, according to a statement on Saturday.

Comcast emerged as the top bidder for the British broadcaster after an auction process in which 21st Century Fox Inc. also participated. Fox offered 15.67 pounds a share for London-based Sky.

The Independent Committee considers Comcast’s offer “to be fair and reasonable” and says it is in the best interests of all of Sky shareholders to accept the “materially superior” offer.

“We consider the Comcast offer to be an excellent outcome for Sky shareholders, and we are recommending it as it represents materially superior value,” Sky Chairman Martin Gilbert says in statement.

©2018 Bloomberg L.P.