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Roku and Fox Shares Slide as Acquisition Valuation Falls Short
Shares of Roku and Fox declined after the actual buyout value was revealed to be lower than the $160-per-share price initially cited.
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Fox announced an agreement to acquire Roku in a deal valued at approximately $22 billion, including debt. The transaction involves a mix of cash and stock to merge Fox's sports and news networks with Roku's platform. Following the announcement of the massive acquisition, Fox shares plummeted nearly 10%.
Shares of Roku and Fox declined after the actual buyout value was revealed to be lower than the $160-per-share price initially cited.
Read the full storyU.S. law firms are investigating the fairness of acquisition bids for Roku and Open Lending to ensure boards fulfilled fiduciary duties to shareholders.
Fox announced a $22 billion cash-and-stock deal to merge its news and sports networks with Roku's platform, causing FOX shares to drop 10%.