Comcast (CMCSA) said on Wednesday it has increased superior cash offer for the entire issued and to be issued share capital of Sky Plc (SKY.L) to GBP14.75 per share, implying a value of $34 billion (GBP26 billion) for the fully diluted share capital of Sky.
Comcast said the the latest offer has been recommended by the Sky Independent Committee of Directors.
This comes after Twenty-First Century Fox (FOX, FOXA) earlier Wednesday lifted its offer for Sky to GBP14 per share, valuing the company at 24.5 billion pounds.
The battle for control of Sky is coming to a head and could affect the broader fight between Comcast and The Walt Disney Co. (DIS) to acquire most of Fox entertainment assets, WSJ has said.
The UK government is expected to announce its regulatory decision on Fox’s bid this week.