Barclays, Morgan Stanley and independent advisory firm PJT Partners are advising the independent directors of Sky on a takeover approach for the British broadcasting company from shareholder 21st Century Fox.

London-listed Sky said in a December 9 statement that it received an approach from 21st Century Fox and that after a "period of negotiation" its independent directors had reached an agreement with the US company on an offer price of £10.75, less the value of dividends subsequently paid by Sky.