AT&T to Buy DirecTV for $48.5 Billion
c.2014 New York Times News Service
AT&T formally agreed on Sunday to buy DirecTV for about $48.5 billion, striking another transaction meant to overhaul the U.S. telecommunications landscape.
Under the terms of the deal, AT&T will pay about $95 a share in stock and cash. That is a roughly 10 percent premium to DirecTV’s closing share price on Friday and about 30 percent higher than where the company’s shares were trading before rumors of a deal began to emerge.
Including debt, the takeover is valued at about $67 billion.
The boards of both companies approved the transaction at separate board meetings on Sunday.
The deal will face some scrutiny by federal regulators, who are already weighing Comcast‘s $45 billion bid for Time Warner Cable.