Fox and Roku shareholders back $22 billion takeover
Fox's $22 billion bid for Roku has cleared its first big test.
Shareholders in both Fox Corp. and Roku voted in favour of the takeover at separate special meetings on Wednesday, 14 October, according to Variety. A special meeting, meaning a vote called outside the normal annual cycle to decide on a single deal, was held by each company. A majority of shares in each case backed the acquisition.
The deal is not done yet. Exact vote counts have not been published. Those final tallies will be released in regulatory filings, the formal documents companies lodge with regulators to record major decisions.
Fox first announced its agreement to buy Roku in June. Under the terms reported by Variety, Fox agreed to pay $160 per share. That price values the whole transaction at about $22 billion.
About $14.2 billion of that will be paid in cash, with the rest paid in Fox Class A common stock, meaning shares in Fox itself rather than cash. After completion, Fox shareholders are expected to hold about 73% of the combined company and Roku shareholders about 27%, according to a Fox investor presentation. The boards of both companies had already unanimously approved the deal before it went to shareholders.
What comes next is regulatory clearance. Fox expects the purchase to be completed in the first half of calendar year 2027, subject to approval from the US Justice Department and other regulators. In other words, the takeover is not finalised until governments sign off.
Fox has said it is committed to continuing to run Roku as an open, partner-friendly platform. Roku founder and chief executive Anthony Wood will have an ongoing role in the combined company, according to Variety.
For people watching at home, nothing changes right away. Shareholder approval removes one hurdle, but the timetable now rests with regulators and the paperwork that follows.
