Market Overview

Wall Street's M&A Chatter From February 27

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, February 27, 2017.

FCC Chairman Says No Role for Agency in AT&T-Time Warner Merger

The FCC:

New FCC Commissioner Ajit Pai doesn't expect his agency to review the AT&T (NYSE: T)-Time Warner (NYSE: TWX) merger, according to a report from Dow Jones. Interviewed at the Mobile World Congress in Barcelona.

Pai said no airwave licenses will be transferred, based on his understanding of the deal. A transfer of licenses would have triggered a review of the deal.

Time Warner shares surged higher on the report.

Time Warner rose $0.92 Monday to close at $98.20.

Warren Buffett Says 3G, Buffett Agreed on Making Friendly Bid for Unilever

The Buffett Comments:

Warren Buffett, speaking on CNBC, said he and 3G agreed on making a friendly bid for Unilever (NYSE: UL), if they were open to it. Buffett said Kraft Heinz's (NYSE: KHC) offer for Unilever was never intended as a hostile takeover offer.

Unilever rejected Kraft's $50 per share offer and Kraft agreed to withdraw the bid. Buffett said there was "no backup deal."

Unilever closed at $47.67 on Monday, up 1.17 percent.

Softbank Putting Together Deal to Merge OneWeb with Intelsat

The Rumor:

SoftBank (OTC: SFTBY) is seeking a merger of OneWeb and Intelsat (NYSE: I), according to sources as first reported by Sky News. The sources say discussions involving Intelsat and OneWeb are at an advanced stage.

OneWeb shareholders include Airbus, Coca-Cola, Virgin Group, along with Intelsat and SoftBank, which invested $1 billion in OneWeb.

A deal could be announced late Monday or on Tuesday, when Intelsat is scheduled to report its earnings.

Intelsat shares were halted at $5.87 on Monday, up 25 percent following the Sky News report.

Posted-In: M&A News Rumors

 

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