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| Quote: BSkyB, the parent company of Sky News, has turned down an approach from Rupert Murdoch's News Corporation to take full control of the company. News Corp, which currently owns 39% of BSkyB, wanted to buy the remaining shares for 700p each. BSkyB rejected the proposal, saying it undervalued the company, but added that its independent directors would be prepared to support a bid offering in excess of 800p per share. The news sent BSkyB shares soaring by up to 20%, their biggest jump in a single day for more than a decade. | |
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http://news.sky.com/skynews/Home/Busine ... 9357?f=rss
So not only does Rupert get to test the waters, he also boosts the share price of a company he owns 39% of? That about right?
Oh, and er, any excuse to turn him down under regulatory reasons will do nicely thanks
