Sources Say Deal Between AT&T, DirecTV Could Get Done at $105/Share
The story first broke at the beginning of May, sending shares of DirecTV up more than eight percent. Since then, AT&T has risen 2.44 percent and DirecTV has risen 12.32 percent.
New to the fluid story Monday, the Wall Street Journal reported the deal could be completed in as little as two weeks. Shortly after the Wall Street Journal announcement, Bloomberg headlines suggested people familiar with the deal said it may go through for $100 per share (approximately 50 billion dollars). A Barclays analyst (cited in the WSJ story), on the other hand, said the offer could be for $105 per share.
Although DirecTv shares soared higher on both announcements, the most positive reaction was from Bloomberg's rumored value. Shares rose $2.54 on the rumor that the deal could be completed in two weeks and $4.24 when Bloomberg said the deal could be completed for $100. DirecTV shares last traded at $92.34, up nearly 6 percent from the close.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.