AT&T is reportedly ready to acquire DirecTV for $100 a share, according to a report published by Bloomberg on Monday afternoon.
The deal is said to be worth as much as $100 a share, though could involve both cash and stock, according to a second report published by Dow Jones. Earlier this month we heard reports that AT&T was interested in acquiring DirecTV for more than $40 billion, though now it appears those talks have turned into something more official, with the deal apparently on its way to become official sometime within the next two weeks.
AT&T is likely trying to snatch up DirecTV in an effort to increase its presence against the possible Comcast/Time Warner Cable merger. If both deals are approved, however, we’ll see the industry shrink from four major players to just two, something that has industry watchers worried about monopolization in specific regions. DirecTV offers a different set of services than AT&T, however, so the deal could be more complementary.
Neither company has made an official announcement yet. Shares of DirecTV are up more than 5 percent in after-hour trading on the news.