Tuesday, 11 December 2018

A year in deals: bring your M&A-game

By Nick Wood, Total Telecom
Tuesday 20 December 16

The telco industry's dealmakers were out in force in 2016, as players sought greater scale or eyed opportunities in adjacent markets.

With the year rapidly drawing to a close, it is time to look back at some of the industry's biggest transactions, and what happened after pen was put to paper. The following are not necessarily the most financially-valuable deals, but they are certainly some of the most significant in telecoms this year. AT&T to acquire Time Warner for $85.4bn THE DEAL October: AT&T agreed to pay $107.50 per share for Time Warner, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock, implying an equity value of $85.4 billion. That rises to $108.7 billion when Time Warner's debt is included. After the deal closes, Time Warner shareholders will own 14.4%-15.7% of AT&T shares. LATEST DEVELOPMENTS After the election of a certain thin-skinned, impossibly-coiffured billionaire in November, it is anyone's guess as to what will happen with this one. Before his surprise victory, Donald Trump said he would block the AT&T-Time Warner tie-up, because such deals are bad for democracy. However, Trump hasn't even been sworn in yet, and we already know that what he says he will do, and what he actually does…

With the year rapidly drawing to a close, it is time to look back at some of the industry's biggest transactions, and what happened after pen was put to paper. The following are not necessarily the most financially-valuable deals, but they are certainly some of the most significant in telecoms this year. AT&T to acquire Time Warner for $85.4bn THE DEAL October: AT&T agreed to pay $107.50 per share for Time Warner, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock, implying an equity value of $85.4 billion. That rises to $108.7 billion when Time Warner's debt is included. After the deal closes, Time Warner shareholders will own 14.4%-15.7% of AT&T shares. LATEST DEVELOPMENTS After the election of a certain thin-skinned, impossibly-coiffured billionaire in November, it is anyone's guess as to what will happen with this one. Before his surprise victory, Donald Trump said he would block the AT&T-Time Warner tie-up, because such deals are bad for democracy. However, Trump hasn't even been sworn in yet, and we already know that what he says he will do, and what he actually does…

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