With a potential merger in jeopardy, we have learned in an SEC filing, AT&T (T +0.7%) says that it and Time Warner (TWX+0.3%) have agreed to extend the termination date of their merger plan to April 22, 2018. The AT&T and Time Warner merger has received all key approvals outside the United States.
However, the AT&T and Time Warner merger is facing trouble from the United States government, something that has caught us a bit by surprise. However, the decision to extend the AT&T and Time Warner merger deadline is not surprising:
The AT&T and Time Warner merger deadline extension is of no particular surprise as the company gears up to fight a Justice Dept. lawsuit challenging the $85B buyout, though it could signal just how patient the telecom giant will be with litigation that drags out. AT&T has said they want the case to move expeditiously, and the deal (agreed to more than a year ago) has already undergone lengthy review.
In its filing, AT&T says it “intends to vigorously contest the DOJ’s allegations and is confident that the Court will reject the DOJ’s challenge to the merger.”
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