Sky, 21st Century Fox Agree on Cash Terms of Deal, Eye 2017 Close

Twenty-First Century Fox is offering Sky shareholders roughly $13.34 per share in its planned takeover of the U.K. pay-TV company (1612090029), it said in a news release Thursday. Twenty-First Century Fox said that's roughly a 40 percent premium and the deal is expected to close before the end of 2017, pending regulatory and shareholder approval. It said Sky's independent board committee plans to recommend the acquisition terms unanimously.