Top Mergers and Acquisitions: AT&T (T) and DirectTV (DTV)
The biggest deal of the second quarter was AT&T’s (T) acquisition of satellite-TV provider DirectTV (DTV) for $48.9 billion. Given the tsunami of consolidation washing over sector, this deal was no surprise. Indeed, when it comes to mergers and acquisitions, AT&T almost had no choice.
It’s not just that these comms companies need to bundle services for internet, phone, wireless and television to compete — they also need to bulk up in order to negotiate fees with media giants like Walt Disney’s (DIS) ESPN. Don’t be surprised if the sector delivers up some more big mergers and acquisitions in the third quarter — and beyond.
As of this writing, Dan Burrows did not hold a position in any of the aforementioned securities.