Fox Stock Is Down 15% After Announcing a $22 Billion Roku Deal. Is This a Buying Opportunity?
Fox will acquire the streaming and hardware company Roku, continuing the trend of large-scale consolidation in the television and streaming industry.
Fox Stock Is Down 15% After Announcing a $22 Billion Roku Deal. Is This a Buying Opportunity?
Overview
The highly competitive streaming and television space continues to experience consolidation.
On June 15, Fox Corp. (NASDAQ:FOX) announced it had reached an agreement to acquire Roku (NASDAQ:ROKU) in a deal already approved by both companies’ boards of directors.
Details
Fox will pay $22 billion in enterprise value for Roku ($25 billion equity value), valuing the hardware streaming company at $160 per share, a 28% premium to its June 10 price.
Source
Originally published at www.fool.com.
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