The massive acquisition of 21st Century Fox by The Walt Disney Company is finally set to close.
Disney has set a March 20 closing date for the acquisition of 21st Century Fox. The date was included in a press release in which Disney confirmed that the company has received the last major approval for the deal from regulators in Mexico.
According to Disney, 21st Century Fox shareholders have set a deadline of this Thursday to choose the amount of cash and Disney stock to receive in the $71.3 billion transaction.
Disney said it expects the historic union of two of Hollywood’s pioneering studios to “become effective at 12:02 a.m. Eastern time on March 20.” .
21st Century Fox shareholders will receive a mix of cash and stock valued at $38 a share in the Disney deal. The house of mouse put a stock collar provision in the deal to adjust the stock exchange ratio higher if their share price dipped below $93.53 at the time or lower if Disney shares surpassed $114.32 at the time of the deal closing. On Monday, Disney shares closed at $114.75.