Items tagged with Merger

As we originally posted yesterday, Comcast today confirmed that it has abandoned its bid to acquire rival Time Warner Cable for $45 billion. The deal, which was originally announced in February 2014, was questionable at best, but came under more scrutiny in recent weeks. The company issued a brief statement this morning indicating that the merger has been terminated. "Today, we move on. Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn’t agree, we could walk away,” said Comcast CEO Brian Roberts.  “Comcast NBCUniversal... Read more...
From the moment the proposed $45 billion Comcast-Time Warner Cable (TWC) merger was announced over a year ago, many consumers were understandably worried about what that would mean for competition in the broadband and TV markets, not mention how it would affect their bills each month. Add that in with the fact that both companies have customer service rating that rank near the bottom and that Comcast is a two-time winner of The Consumerist’s “Worst Company in America” award, it shouldn’t come as a surprise that many have been skeptical of the deal actually passing muster with regulators. Thankfully,... Read more...
The opposition to the $45 billion Comcast-Time Warner Cable merger is growing. Late last week, we reported that the Department of Justice (DOJ) antitrust division is damn near close to recommending that the deal be nuked. The DOJ’s recommendations could ultimately lead to a lawsuit aimed at stopping the deal in its tracks. For its part, Comcast contends that a merger with TWC would be good for consumers. “There is no basis for a lawsuit to block the transaction,” said Comcast spokeswoman Sena Fitzmaurice last week. Fitzmaurice went on to add that the deal would “result in significant consumer benefits... Read more...
AT&T and DirecTV are trying to convince lawmakers that a proposed $48.5 billion merger between the two companies--that’s forty-eight and a half billion dollars--and so far the best argument they have going in their favor is the promise of lower costs when comes to pricey negotiations for rights to video content. It what seems like a couple of lines from an Onion article, Reuters reports that Senator Richard Blumenthal (D-Connecticut) asked AT&T CEO Randall Stephenson point blank if he could promise that these cost savings will be passed on to consumers. “No sir, I can’t,”... Read more...
Analysts aren't convinced that Sprint will be able to clear the regulatory hurdles required to acquire T-Mobile, especially after AT&T already tried before falling flat on its face. Despite the skepticism, investors are apparently optimistic a deal will get done -- share prices of both wireless carriers shot up more than 30 percent since news of a possible merger was first reported. According to a report in The Wall Street Journal, which first broke the story, Sprint and T-Mobile flirted with the idea of a merger two years ago. Those talks ultimately stalled once Sprint decided it would be... Read more...
Stop us if you've heard this one before: AT&T is looking to merge with a telecom...what's that, you have heard this one? Well this time it's different. AT&T isn't looking to make another run at T-Mobile, the U.S. subsidiary of Deutsche Telekom, and presumably the wireless carrier learned its lesson about offering massive breakup fees as insurance against regulatory vetoes. Nevertheless, AT&T is still in the market for a merger. Specifically, AT&T is shopping telecoms in Europe to offset slow growth here in the States, The Wall Street Journal reports. A deal could be made by the... Read more...
The AT&T - T-Mobile merger may be off the table, but T-Mobile's parent company Deutsche Telekom is walking away from the deal with a smile on its face. The communications giant released the details of what AT&T agreed to pay for the privilege of bidding on its business, and it's an impressive set of benefits. AT&T's $3B (approximately €2.29B) payment will reportedly be used to pay down DT's debts in other areas. What T-Mobile is getting is a large package of AWS spectrum in 128 market areas, including 12 of the top 20 ((Los Angeles, Dallas, Houston, Atlanta, Washington, Boston,... Read more...
Know what it feels like to lose $5? How about $100? How about $4 billion. That's the write-down that AT&T is going to have to eat, and that's the size of the check that Deutsche Telekom is going to cash. After many months of lobbying every organization under the sun to green-light the AT&T / T-Mobile USA merger, both companies have today announced that they're giving it up. There will be no merger, at least not this year. At first, it seemed that this merger was destined to happen, but as the U.S. government began to balk at it, the likelihood became less and less. Now, it's just a memory.... Read more...
The proposed merger between Google and Motorola is one step closer to completion. Recently, Motorola's stockholders voted with an overwhelming majority to approve the proposed merger with Google. At a recently held Special Meeting of Stockholders, approximately 99% of the voting shares voted in favor of the merger agreement. Approximately 74% of Motorola Mobility’s total outstanding shares of common stock were represented in this vote. The merger is still subject to various closing conditions that could delay or prevent the merger, but assuming all goes well, the merger is expected to close... Read more...
Well, this isn't looking good for those already planning to attend the marriage of T-Mobile USA and AT&T. While it was starting to look as if the proposed merger would end with the two holding hands and riding off into the sunset, things have taken a dramatic turn today. The U.S. Department of Justice filed court papers in Washington to block the $39b acquisition, suggesting that the deal would "substantially lessen competition" in the market. Not surprisingly, AT&T's shares dropped 5 percent. That's probably because AT&T will be forced to pay T-Mobile's parent company (Deutsche Telekom... Read more...
Here's an interesting one. Hitachi Global Storage Technologies has just snapped up a substrate manufacturing facility located in Sarawak, Malaysia from Western Digital. You heard right -- one hard drive maker is taking some property from a rival hard drive maker. In the release, we're told that the facility that Hitachi GST is taking over produces aluminum substrates used in hard disk drives, which WD originally ended up with when it purchased Komag in 2007. Steve Milligan, president, Hitachi GST, had this to say about the agreement: "This acquisition further strengthens Hitachi GST and is the... Read more...
Just 72 hours after IBM shipped out its 50 millionth Wii processor, we're now learning that said company could be looking to expand via acquisition. In a breaking Wall Street Journal report, it's stated that International Business Machines is already "in talks" to buy Sun Microsystem, a move that would reportedly "bolster IBM's heft on the Internet, in software and in finance and telecommunications markets."In reality, IBM and Sun aren't that much different to begin with. Both companies construct computer systems for corporate and enterprise clients, both rely heavily on Windows and neither rely... Read more...
Now they just have to get this deal past the feds.XM and Sirius' proposed merger received near-unanimous support from shareholders, as the two companies announced they had cleared the next hurdle in becoming a single entity.According to tabulations by XM, 99.8 percent of shareholders voted in favor of the transaction. The merger agreement calls for each XM shareholder to receive 4.6 Sirius shares for each share they own.The news was music to Wall Street's ears. XM skyrocketed nearly 10 percent to close at $15.06, while Sirius rose 6.5 percent to close at $3.63. Both stocks looked poised to add... Read more...
AMD'S PROPOSED ACQUISITION OF ATI RECEIVES MERGER CONTROL CLEARANCE IN TAIWAN SUNNYVALE, CALIF. and MARKHAM, ONTARIO - Oct. 2, 2006 -Advanced Micro Devices, Inc. (NYSE: AMD) and ATI Technologies Inc. (TSX: ATY, NASDAQ: ATYT) today announced that the Fair Trade Commission of Taiwan has cleared the proposed acquisition of ATI by AMD. The proposed acquisition, announced on July 24, 2006, still remains subject to the approval of ATI shareholders, court approval of the plan of arrangement, approval by the Minister of Industry under the Investment Canada Act and other customary closing conditions.... Read more...
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