Disney's stock surges to pace Dow gainers after Comcast's rival cash bid for Fox assets

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  1. sniper-academy

    sniper-academy Administrator Staff Member

    Sep 30, 2011
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    Walt Disney Co.'s stock surged 2.6% in morning trade Thursday, to pace the Dow Jones Industrial Average's gainers. The rally comes after Comcast Corp. made $65 billion cash bid for some coveted 21st Century Fox Inc. assets, which was higher than Disney's $52 billion all stock deal announced in December. Analyst Daniel Ives at GBH Insights said for Disney to compete with Comcast's bid, it would not only have to raise the value of its bid, but also change it to all cash from stock. That would be better for Disney's investors, because a stock deal dilutes shareholder value.

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