AT&T gets bids valuing DirecTV over $15B including debt - WSJ

Dec. 09, 2020 10:12 AM ETAT&T Inc. (T)T, APO, LCIDBy: Jason Aycock, SA News Editor169 Comments
  • AT&T (NYSE:T) has received bids for its DirecTV unit valuing it at more than $15B including debt, The Wall Street Journal reports, as the process moves into the late stages.
  • That means there could be a deal completed by early in 2021.
  • AT&T shares are up 3% to a session high.
  • Among those offering bids over the $15B mark was Michael Klein's blank-check firm Churchill Capital Corp. IV (CCIV +0.4%), according to the report.
  • Meanwhile, Apollo Global Management (APO -0.8%), linked to the discussions for some time, has submitted a bid valuing DirecTV under $15B, the WSJ says.
  • Churchill Capital IV, which raised $2.07B in July, was linked to the DirecTV talks in November with an eye to a deal around $15B.
  • The price is still a fraction of what AT&T paid for the assets five years ago: about $48.5B, or $67.1B including debt.

Recommended For You

Comments (169)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.