AT&T will pay $107.50 per Time Warner share, half in cash and half in stock, worth $85.4 billion overall, according to a company statement. U.S. lawmakers were already worried about cable company Comcast Corp's $30 billion acquisition of NBCUniversal, and several argued for close regulatory scrutiny of the AT&T deal. U.S. Republican presidential nominee Donald Trump said at a rally he would block any AT&T-Time Warner deal if he wins the Nov. 8 election. Time Warner must pay AT&T $1.725 billion if it finds a different buyer. If regulators block the deal, AT&T must pay Time Warner $500 million, according to people familiar with the deal.

Source: The Star October 23, 2016 01:52 UTC