Does the market think this sale won't be approved by the current administration for some reason?
Also, look at the five day chart. Shot up from $120 on Friday. Bunch of insiders knew early.
> FOX is acquiring Roku in a cash-and-stock transaction valued at $160.00 per ROKU share. FOX will pay $96.00 in cash and 0.9693 shares of FOX Class A common stock for each Roku Class A and Class B share outstanding immediately prior to the effective time of the merger.
So not a straight $160/share cash, but $96/share cash and some FOX shares. Roku trading below 160 means the fox stock is not considered worth (160-96) by the market.
Who is it actually bad for? The consumers. The new religious-linked GOP no longer believes in fairness or holding business accountable for anything, it's "God's will" or something...