Disney (NYSE: DIS) shares are moving with a rather heavy deferred volume, down 1.2% postmarket, as the company announces preliminary results of election selection shareholders of Twenty-First Century Fox (FOX, FOXA) for the sale of $ 71B assets.
Fox shareholders chose which form of consideration they should receive for their shares.
51.57% of the ordinary Fox shares (holders of 959,919,192 shares) were elected to receive money. About 36.65% of the outstanding shares (holders of 682,198,198 shares) chose to receive shares in New Disney (TWDC Holdco, the holding company that will hold both Disney and 21
Holders of another 11.79% of the outstanding shares did not make an election.