Fox to snap up Roku in a $22B streaming deal
Fox is set to acquire Roku in a $22 billion deal, paying $96 in cash and 0.9693 shares of Fox Class A stock for each Roku share (about $160 per Roku share). The deal would give Fox roughly 73% ownership of the combined company and Roku about 27%, and is expected to close in the first half of next year pending shareholder and regulatory approvals. Fox’s stock fell about 16% on the news, with Roku’s stock also dipping slightly.