Andrew Hulsh, a partner in the Corporate and Securities Practice Group of Pepper Hamilton, was quoted in the July 19, 2018 The Deal article, "Comcast Bows Out of Fox Bidding."
"Disney always had an inherent advantage because they had a stronger balance sheet than Comcast," said Pepper Hamilton LLP M&A lawyer Andrew Hulsh
"Comcast would have been required to incur so much indebtedness to finance this transaction," Hulsh added, regarding Comcast's cash takeout offer. "As the price kept increasing, it made it substantially more difficult for Comcast to compete relative to Disney."
"In a lot of these transactions success or failure is often dictated, in my mind, by momentum," lawyer Hulsh said. "Disney, once they got DOJ approval and they made this outstanding bid, my sense is they were really very much in the drivers seat."