Disney's Iger sees new Comcast bid as "inevitable"

[Pat X]

I hope he is wrong!

Reuters
Disney's Iger sees new Comcast bid inevitable
Tuesday March 9, 1:39 pm ET


LOS ANGELES, March 9 (Reuters) - Entertainment conglomerate Walt Disney Co.(NYSEIS - News) President and Chief Operating Officer Bob Iger said on Tuesday that he sensed the "inevitability" of a new and higher takeover bid from cable operator Comcast Corp.(NasdaqNM:CMCSA - News)

Iger also told investors at a conference hosted by Bear Stearns that Disney was doing well on its own as a content-only company. A marriage of distribution and content could work but was not necessarily a "slam dunk," he added.

 

[Shaman]

Nice to know Bob Iger is on the job...

I just hope they make some kind of defensive move soon; and hopefully they'll make the move before Comcast strikes again....

 

[General Grizz]

Kill Comcast for good, and, after that, kick Iger out.

 

[Pat X]

Maybe I am reading too much into this...but here is a theory, bear with me.

In the last two days we've heard two opposing views...Comcast says it will not raise its bid. Comcast's prez says Disney is not a "must-Have" and if the deal doesn't work, "oh well."

But Iger today is saying another offer is inevitable.

As we know, the deal comes down to stock price. If the comcast deal doesn't look like it'll happen, investors sell Disney stock and the Comast offer looks more appealing. Comcast knows this so it is in Comcast's interest to talk as if the deal isn't important to the company and they plan on walking away.

Disney and Iger, realize the strategy Comcast is taking with this language and Iger comes out today saying another offer is certain to keep Disney stock at high levels thereby keeping Comasts offer unappealing.

Or, I just need to chill and have a few shots of goldschlaeger. :slurp: :dazzle: :snore:

 

[wdwmaniac]

One question from what I heard Comcast's first bid would give teh Disney Company 42% of the Company. But with the new stock price it would be closer to 50%. If Disney's stock rose enough to make there bid 51% would it be Disney buying Comcast since they would have majority ruling?

 

[lebernadin]

I think how it would go down is that if Disney's shares outvalued Comcast's, then Disney's shareholders would hold the majority of shares in the newly created corp. The Disney board and entire executive structure would most likely be replaced unless Comcast's board approved of some of them at their current positions. Eisner would obviously be gone and i doubt anyone on this current Disney board would be asked to join the Comcast board.

So those individuals and institutions who currently hold the majority of Disney shares would then possess a good amount of power within the "new" Comcast and therefore could show their dissent of the Comcast board and leadership just as they are now.