PHILADELPHIA: Comcast's hostile bid for The Walt Disney Co. finds agencies with long histories of working on high-stakes corporate battles aligned on each side of the tussle.
The Abernathy MacGregor Group in New York is working with Comcast Corp., while Kekst is aiding Disney in its defense.
Abernathy COO Adam Miller, who confirmed that his firm is working with Comcast, said that Abernathy has worked with Comcast since 1996, including on its takeover of AT&T Broadband in 2001. Comcast did not return a call seeking comment.
Kekst & Company is working with Disney, according a source familiar with the deal. Disney did not return calls seeking comment, while Kekst would not comment either.
As of last week, Disney rejected Comcast's unsolicited stock offer of about $50 billion, saying it was too low. There is speculation that Comcast's next move might be to file a motion to ask shareholders to remove Disney's board of directors.