Special Situations: Twenty-First Century Fox (FOXA) Initiation July 2014

Twenty-First Century Fox July 28, 2014 IDEA SUMMARY Murdoch's reported price/leverage discipline creates material deal risk - assume $95 final bid versus TWX's $105 ask. A likely 3-months-to-agreement/12-months-to-close timeline creates lopsided risk/reward: FOXA returns 42% annualized if deal falls through within 3 months, 8.1% annualized if deal closes within 15 TWX returns -34.6% annualized if deal fall … Continue reading Special Situations: Twenty-First Century Fox (FOXA) Initiation July 2014

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