Once the deal closes, Time Warner shareholders will own between 14.4% and 15.7% of AT&T shares. Time Warner shareholders are to receive $53.75 per share in cash and $53.75 a share in AT&T stock. Once the deal closes, Time Warner shareholders will own between 14.4% and 15.7% of AT&T shares. The proposed deal calls for Time Warner to pay about a $1.72 billion breakup fee, and AT&T to pay $500 million, a separate person said. The merger is subject to approval by Time Warner shareholders as well as review by the US justice department, and is expected to close by year-end 2017.

Source: Mint October 23, 2016 05:26 UTC