AT&T Inc. and Time Warner Inc. agreed to waive the right to terminate the companies’ merger agreement, until June 18, 2018. Previously, the companies had agreed to terminate the deal if the merger failed to close by April 22, 2018. Telecom giant AT&T is battling the Trump administration over its proposed merger with media giant Time Warner, as antitrust regulators have sued to block the deal. In November, Trump said the deal was “not good for the country.” The original date of the merger agreement was Oct. 22, 2016. AT&T’s stock has lost 8.6% year to date, while Time Warner shares have slipped 3.7% and the S&P 500 has gained 20%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News