Today UK broadcaster Sky and 21st Century Fox reached an agreement on the terms of a takeover deal with Rupert Murdoch’s 21st Century Fox agreeing to pay £11.7 billion for the 61% stake it does not already own. Sky shareholders will get £10.75 in cash for each share, valuing the company at £18.5bn. Some investors believe the bid undervalues Sky and have called on the independent directors to extract a higher offer. Rupert Murdoch has been the pantomime villain in the UK since he first took on the print unions within his newspaper empire in 1984/5, when he built a new print works in Wapping in the UK, just in case his negotiations with the Union went awry. He then…