AT&T is about to buy Time Warner for $85 billion
AT&T, one of the biggest mobile carriers in the United States, is about to close a deal to acquire Time Warner for $110 per share or precisely for $85 billion. However, so far, it is only an agreement in principle which means they are interested in making a formal contract. Even though agreement in principle is a sign for a future agreement, we cannot guarantee they will close the deal.
According to Bloomberg though, the deal will be officially announced on Monday as it might be approved as soon as tomorrow. The report also indicates that AT&T will pay approximately $110 per Time Warner share which is roughly equal to $85 billion dollars. By the way, AT&T itself is worth $230 billion.
If such an inquisition happens, it will be marked as the largest one in 2016. It will also bring AT&T in a better place to compete with Comcast as AT&T will also gain the control of HBO, CNN and Warner Bros thanks to this acquisition .
Reuters, on the other hand, says that it is unlikely for deal to be blocked by anti-trust regulators, but there might be minor changes for US Justice Department to approve it.
Source | Reuters
Via | TheVerge