On June 16, Fox Corporation Class A declined 5.28% in regular trading, trading at approximately $51.91/share, with turnover of $277 million. The stock extended its prior session loss of over 16%, which marked its largest single-day drop on record.

The selling pressure stems from Fox Corporation's announcement on June 15 of a definitive agreement to acquire streaming platform Roku for approximately $22 billion. Under the terms, Roku shareholders will receive $160 per share — comprising $96 in cash and approximately 0.97 shares of Fox Class A common stock — representing an 11.4% premium to Roku's prior closing price. The deal structure is 60% cash and 40% stock. Upon completion, existing Fox shareholders will hold approximately 73% of the combined entity, while Roku shareholders will own roughly 27%. Morgan Stanley has provided a fully committed $12 billion bridge financing facility to support the transaction, which is expected to close in the first half of next year pending shareholder and regulatory approvals.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)