Disney's Fox Bid Is Aggressive, But Not Punchy Enough

Walt Disney Co.'s sweetened $71 billion deal to buy most of Rupert Murdoch's 21st Century Fox Inc. is aggressive, but it may not be aggressive enough to end the bidding here. The entertainment giant had to raise its offer to see off interloper Comcast Corp., and it’s put together a bid that beats Comcast’s by every measure. Having previously agreed on a transaction with Fox at roughly $28 per share back in December, Disney has enjoyed a head start on Comcast in commencing the regulatory progress.