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US: AT&T & Time Warner discuss possible merger- Bloomberg

By  |  October 20, 2016

Senior executives at AT&T Inc. and Time Warner Inc. have met in recent weeks to discuss various business strategies including a possible merger, according to people familiar with the matter.

Time Warner rose at much as 9.5 percent in New York to $86.75, valuing the company at about $67.5 billion. AT&T fell 2 percent.

The talks, which at this stage are informal, have focused on building relations between the companies rather than establishing the terms of a specific transaction, the people said, asking not to be identified as the deliberations are private. Neither side has yet hired a financial adviser, the people said.

Time Warner Chairman and Chief Executive Officer Jeff Bewkes is a willing seller, said one of the people, if he gets an offer he thinks is fair. Bewkes and his board rejected an $85-a-share approach in 2014 from Rupert Murdoch’s 21st Century Fox Inc., which valued Time Warner at more than $75 billion.

Full Content: Bloomberg

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