Deals
Time Warner Deal Skeptics Keep Shares 19% Below AT&T Terms
- Discount highlights regulatory risks to $85.4 billion deal
- U.S. Senator Leahy calls for judiciary committee hearings
AT&T-Time Warner: Debt and a New Dawn for Media M&A
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Time Warner Inc.’s 19 percent discount to AT&T Inc.’s buyout offer highlights the scrutiny the $85.4 billion deal will face with U.S. regulators and the difficulty investors have believing it will get done.
Time Warner fell 3.1 percent $86.74 at the close in New York, finishing well below the $107.50-a-share in cash and stock that AT&T has agreed to pay for the owner of HBO and the Warner Bros. studio. AT&T fell 1.7 percent to $36.86.