Comcast Takeover In Motion

[BEECH]

OFFERED 54 BILL TODAY FOR DISNEY ........... BEECH

[mikeymars]

Oh, boy....a good 'ol fashion HOSTILE TAKEOVER battle....."Barbarians at the Gates" featuring Goofy in the watchtower.....I love it........:hyper:

[shelbyjosh]

I am somewhat confused with all this stuff. What allows a takeover? Don't board members get a say on this? Is Eisner for this or no? Can it be prevented??? Educated me!!!!

[mitros]

I'm wondering what will happen to DVC if Comcast does manage to take over? :confused: :confused: :eek: :confused:

[CarolMN]

Some interesting articles on the proposal - it is NOT a done deal or even a foregone conclusion!

Comcast's Letter to Disney (http://money.cnn.com/2004/02/11/news/comcast_letter/index.htm)

Comcast Makes a Bid for Disney (http://money.cnn.com/2004/02/11/news/companies/comcast_disney/index.htm)

[DrTomorrow]

Briefly;

Disney is a publicly held company - if Comcast buys enough stock from current stockholders, it "owns" the majority of the company.

If the Board of Directors agrees with the sale and the price per share, and recommends it, the sale becomes an acquisition - happens all the time - and most of the shareholders go along.

If the BoD does NOT agree with it, the sale becomes an attempted hostile takeover; the purchaser then has to offer a stock price that will tempt the stockholders to disregard the BoD's recommendation.

There are steps that the BoD can take to make a hostile takeover more painful to the purchaser, but that's another post....

[Simba's Girl]

UGH!!! I hate comcast! The way they separate thier high speed internet and cable...but if there's a problem with the cable line forget it it will NEVER be fixed!!!

That would be terrible for Disney

[JimC]

I believe the offer is $66 billion. Eisner initally rejected it, but the Board is going to look at it. Don't know if Comcast would try a hostile takeover.

This happened once before, but it was corporate raiders after Disney. Roy and Stan orchestrated a white knight (The Bass Brothers if memory serves me correctly) and together they brought Eisner and Wells to Disney.

Amazing how things change, yet remain the same. It will be interesting to see what Roy and Stan do now that they are off of the Board. Their website savedisney.com is going to be busy with comments.

And just wait for that annual shareholder meeting in the City of Brotherly Love :)

Here is link to more news:

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1075982435107&p=1012571727088

[mitros]

Did'nt Roy quit the board back in 1984 during the hostile take over by corporate raiders?

[Mickey527]

All I can say is Comquest is not getting my 15 shares!!!!!!!!!!!!!!!! Peggie