Fox Corporation shares have dropped 31.1% from their 52-week high of $68.18 reached on January 6, underperforming the broader market. The stock is down 10% over the past three months, while the S&P 500 Index rose 13.5% in the same period. Over the past year, Fox declined 6.5% compared to the S&P 500's 25.4% gain. The decline was exacerbated by a 15.2% single-day drop on June 15 after the company announced a definitive agreement to acquire Roku for $160 per share in a cash-and-stock deal valuing Roku at approximately $22 billion in enterprise value. Wall Street analysts maintain a Moderate Buy consensus with a mean price target of $68.69, implying a 46.3% upside from current levels.
Fox Corp Class AFox announced acquisition of Roku for $160/share, causing 15.2% single-day drop and 31% decline from high.
Roku IncFox agreed to acquire Roku at $160 per share, a premium to market price, valuing Roku at ~$22 billion.
Live Nation Entertainment Inc