The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, February 27, 2017.
FCC Chairman Says No Role for Agency in AT&T-Time Warner Merger
The FCC:
New FCC Commissioner Ajit Pai doesn't expect his agency to review the AT&T (NYSE: T)-Time Warner (NYSE: TWX) merger, according to a report from Dow Jones. Interviewed at the Mobile World
Congress in Barcelona.
Pai said no airwave licenses will be transferred, based on his understanding of the deal. A transfer of licenses would have
triggered a review of the deal.
Time Warner shares surged higher on the report.
Time Warner rose $0.92 Monday to close at $98.20.
Warren Buffett Says 3G, Buffett Agreed on Making Friendly Bid for Unilever
The Buffett Comments:
Warren Buffett, speaking on CNBC, said he and 3G agreed on making a friendly bid for Unilever (NYSE: UL), if they were open to it. Buffett said Kraft Heinz's
(NYSE: KHC) offer for Unilever was never intended as a hostile
takeover offer.
Unilever rejected Kraft's $50 per share offer and Kraft agreed to withdraw the bid. Buffett said there was "no backup deal."
Unilever closed at $47.67 on Monday, up 1.17 percent.
Softbank Putting Together Deal to Merge OneWeb with Intelsat
The Rumor:
SoftBank (OTC: SFTBY) is seeking a merger
of OneWeb and Intelsat (NYSE: I), according to
sources as first reported by Sky News. The sources say discussions involving Intelsat and OneWeb are at an advanced stage.
OneWeb shareholders include Airbus, Coca-Cola, Virgin Group, along with Intelsat and SoftBank, which invested $1 billion in
OneWeb.
A deal could be announced late Monday or on Tuesday, when Intelsat is scheduled to report its earnings.
Intelsat shares were halted at $5.87 on Monday, up 25 percent following the Sky News report.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.