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Fox's Canceled Deal With Time Warner Ranks As Second Largest In U.S. History

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Twenty-First Century Fox (NASDAQ: FOXA) canceled bid for Time Warner (NYSE: TWX) ranks as the second-largest cancellation of a U.S. merger and acquisition transaction. Capital IQ stated the total worth of the bid at $98 billion.

The only larger deal canceled came in 2000, when MCI Worldcom canceled a bid it began in 1999 for Sprint (NYSE: S). The MCI Worldcom and Sprint deal was valued at $127.8 billion.

The canceled  bid for Time Warner brings announced U.S. M&A deals down to $968 billion, from $1.064, billion according to data from Capital IQ. M&A deals to date in 2014 are valued around $227 billion, up from the 2013 full year deal value of $154 billion.

2014 Canceled M&A Deals By Sector - Data Provided By Capital IQ

Sector Number of Deals
Financials 83
Consumer Discretionary 59
Information Technology 37
No Primary Industry Assigned 36
Energy 32
Industrials 29
Materials 21
Healthcare 21
Consumer Staples 20
Telecommunication Services 7
Utilities 3

Posted-In: Capital IQNews


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