DirecTV shareholders approve AT&T takeover

26 Sep 2014

DirecTV’s stockholders have voted overwhelmingly to approve the proposed merger with telecoms giant AT&T, with more than 99% of votes cast in favour, representing 77% of all outstanding shares, the pay-TV group disclosed on its website. The proposed acquisition by AT&T – with a total equity value of USD48.5 billion and a total transaction value of USD67.1 billion including debt – remains subject to regulatory review and approval including expiration of waiting periods mandated by the Hart Scott Rodino Act to permit review and appropriate action by the US Department of Justice, and review and approval by the US Federal Communications Commission (FCC) for required transfer of licences and other FCC authorisations, as well as approval by certain international regulatory bodies. The deal is expected to be completed in the first half of 2015.

United States, AT&T, DirecTV Group