DirecTV Imminent Takeover By AT&T, Pfizer To AstraZeneca: 'Take It Or Leave It'
AT&T Inc. (NYSE: T) and DirecTV (Nasdaq: DTV) reported that they have entered into a definitive agreement, unanimously approved by the Boards of Directors of both companies, under which AT&T will acquire DirecTV in a stock-and-cash transaction for $95 per share ($48.5 billion).
The combined company will be a stronger competitive alternative to cable for consumers wanting a better bundle of top-quality broadband, video and mobile services, as well as a better customer experience and enhanced innovation. Consumers will also benefit from the combined companies’ additional scale in video content distribution across its mobile, video and broadband networks.
On Friday's trading session, shares of AT&T climbed slightly $0.22 (or +0.60%) to $36.74, while DirecTV surged $1.06 (or +1.25%) to $86.18 per share.
AT&T Inc. (NYSE: T) is a premier communications holding company and one of the most honored companies in the world.
DirecTV (Nasdaq: DTV) is one of the world's leading providers of digital television entertainment services.
Crown Equity Holdings Inc. (CRWE) is currently developing its CRWE Network (CRWE-PR), a social networking service which business model is based on selling advertising to local businesses.
The CRWE-PR Finance website (www.finance.crwe-pr.com), in development stage and currently online, allows CRWE the instant distribution of information to the entire CRWE Network community of websites in the U.S. and Canada
The CRWE Network has reached the 567th community website in the U.S., associated with 2133 ZIP Codes, and includes coverage of the greater state of California, Northern and Southern Nevada, Wellington in Florida and 10 provinces in Canada
CRWE provides marketing solutions that boost customer awareness and merchant visibility on the Internet.
On Sunday, Pfizer reported its final proposal to combine the two companies. Under the terms, AstraZeneca shareholders would receive, for each AstraZeneca share, 1.747 shares in the combined entity and 2,476 pence in cash, representing an indicative value of GBP55.00 or $92.53 per share.
Pfizer believes its proposal is compelling for AstraZeneca's shareholders and that a Pfizer-AstraZeneca combination is in the best interests of all stakeholders.
Under the final proposal, Pfizer and AstraZeneca shareholders would own approximately 74% and 26%, respectively, of the combined company.
On Friday's market activity, shares of Pfizer climbed slightly $0.06 (or +0.21%) to $29.12, while AstraZeneca closed at $80.28 per share, down 0.24 (or -0.30%).
AstraZeneca PLC (NYSE: AZN) is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialization of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease.
Pfizer Inc. (NYSE: PFE), a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. Its product portfolio includes medicines and vaccines, as well as various consumer healthcare products
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The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.