Comcast Corp. [S: CMCSA] topped 21st Century Fox Inc. [S:FOXA] in a weekend auction for Sky [S:SKYAY], securing the British broadcaster with a $38.8 billion bid that ends a takeover battle waging since late 2016. Comcast’s offer of £17.28 of a share, or about $22.59, surpassed Fox’s highest bid of £15.67 after three rounds of bidding Saturday, in a rare auction held by British regulators, according to the Wall Street Journal. The £29.7 billion pre-auction valuation was by far the highest ever for such a process in the U.K.
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