Fox raises Sky offer to $32 bn in takeover battle

LONDON: Rupert Murdoch’s 21st Century Fox Inc. boosted its bid for Sky Plc, raising the stakes for Comcast Corp. to retaliate in a battle for control of Britain’s top pay-tv company. Fox offered £14 per share to value Sky at £24.5 billion ($32 billion), 12% more than Comcast’s rival £22 billion offer. Sky shares fell as much as 2% as some investors had expected a higher counter from Fox, but are still trading above the latest Fox bid. “They’re way behind the curve still,” said Crispin Odey, founder of Odey Asset Management LLP, which owns shares of Sky.