Sky Plc is advising shareholders to take no action on Comcast Corp.’s all cash offer for the company at 12.50 pounds per share, as “no firm offer has been made at this point.” The company’s directors said they are aware of their fiduciary duties under the UK takeover code. Comcast surprised the market with its offer for Sky earlier Tuesday, that tops a rival bid of 10.75 pounds a share from 21st Century Fox . The move comes after Walt Disney Co. agreed last year to buy assets from Fox that include its Sky stake, an asset Disney is understood to find attractive as it will expand its overseas presence. “A further announcement will be made as and when appropriate,” Sky said in a statement. Comcast shares were down 2% in premarket trade, but have gained 5% in the last 12 months, while the S&P 500 has gained 17%.
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