Sky shareholders need more information
15 December 2016
Commenting on 21st Century Fox’s takeover bid for Sky, Richard Marwood, senior fund manager at Royal London Asset Management said:
“Following the £10.75 offer for Sky from 21st Century Fox, we would urge the independent committee of Sky directors, who recommended that shareholders accept the offer, to share more information on the independent financial advice that they based their agreement on. Such disclosure would help shareholders assess the fairness of the offer and give greater confidence in the independence of the committee in the bid process.”
Royal London holds 6.2m shares in Sky, which equates to around £62m or 0.36% of the company.
- ENDS –
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages over £101 billion of assets and employs 76 investment professionals. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £101 billion. Group businesses provide around 9.1 million policies and employ 3,179 people. (Figures quoted are as at 30 September 2016)