Rupert Murdoch's Twenty-First Century Fox confirms in a brief official note that it presented an approximately $80 billion offer for Time Warner in June. Despite the amount at stake, however, the Board of Directors of the American group has rejected the generosity of the giant led by the Australian tycoon. In the wake of this revelation, Time Warner shares jumped 15% at the opening on Wall Street.
The news had been anticipated by the New York Times and today Twenty-First Century Fox specifies that "at the moment there are no negotiations with Time Warner". According to a source cited by the Reuters agency, the offer valued the company at $85 per share and would be paid in cash and shares.
