Comicbook.com just reported that Disney’s proposed deal to acquire the 21st Century Fox assets has hit a substantial speed bump this week, as one of the Fox shareholders has filed a lawsuit in regards to the merger.
According to The Hollywood Reporter, Robert Weiss filed the suit on Friday in Delaware federal court, saying that what was filed with the Securities and Exchange Commission wasn’t an accurate estimation of future earning. Weiss’ suit is reportedly seeking to put a stop to the transaction.
Weiss stated in the complaint “In short, unless remedied, 21CF’s public stockholders will be forced to make a voting or appraisal decision on the Proposed Transaction without full disclosure of all material information concerning the Proposed Transaction being provided to them,”
Comicbook also reported that “the shareholder lawsuit takes issue with the lack of projections for Hulu’s future earnings, as well as the estimates for European broadcaster Sky in the years to come. Weiss also wants information about the debt and raises concerns regarding Goldman Sachs.
Disney and Comcast have been in this bid war for some time now for fox’s asset. Right now, Disney latest bid is an overall $71.3 billion which also includes the cash and stock amounting to about $38 per share. There’s still time for Comcast to come in with another bid if the company chooses to do so. Reports suggest that this new bid would be somewhere in the range of $80 billion.