AT&T Inc. T announced over the weekend it plans on acquiring Time Warner Inc TWX for $107 per share in a deal valued at around $85 billion.
Time Warner's stock is actually trading lower on the day amid regulatory concerns — not just in the United States, as the deal would give AT&T control over media content and the delivery system.
As noted by Rich Tullo of Albert Fried, the deal would face a more stringent review process in the European Union and China as international regulators are "capricious and political."
Rockwell Collins–B/E Aerospace
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Rockwell Collins, Inc. COL has agreed to acquire B/E Aerospace Inc BEAV for $62 per share, of which $34.10 will be paid in cash and the remaining in shares of Rockwell Collins' common stock.
Rockwell Collins justified the transaction by noting that the transaction will accelerate its growth and strengthen its position as a supplier of cockpit and cabin solutions.
The company also expects the deal to generate a run-rate pre-tax cost synergy of around $160 million and also be accretive to its earnings per share at a double-digit rate.
Since the deal involves a combination of cash and equity, B/E Aerospace shareholders will own approximately 20 percent of the combined company.
China-based HNA Group announced that it bought a 25 percent equity stake in Hilton Worldwide Holdings Inc HLT from Blackstone Group for $26.26 per share.
HNA Group will appoint two directors to Hilton's board of directors, and Blackstone will continue its representation on the board — even though its stake in the hotel empire has been reduced to approximately 21 percent.
Hilton's president and CEO Christopher Nassetta stated that HNA Group has a proven track record of creating value in the hotel industry and creates new business opportunities. Of particular note, the deal better positions Hilton to target the fast-growing Chinese market, which also happens to be largest outbound travel and tourism market in the world.
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