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Fly News Breaks for December 9, 2016
VOD, SKYAY, FOXA
Dec 9, 2016 | 14:22 EDT
RBC Capital analyst Wilton Fry views the risk arbitrage spread on Sky's (SKYAY) closing price in London as attractive. The analyst calculates a 6.2% spread based on 21st Century Fox's (FOXA) offer of GBP 10.75 less the value of any future dividend. Sky is due to pay a dividend of 12.6p in March. Fry does not expect a competing bid, but says Vodafone (VOD) is the only other company for which Sky would make a good strategic fit.
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