Time Warner Archives - GrowthRater

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Time Warner management need to renegotiate AT&T offer

When a slow, or no growth company offers stock to acquire a faster business, then there is always a risk that time value will whittle away the initial bid premium. For AT&T’s offer for Time Warner, this has been accentuated by the drawn out litigation with the DoJ to get the deal approved as well […]

AT&T confirms $107.5 agreed offer for Time Warner Inc – GrowthRater NPV of $102 ps incl 50:50 completion assumption

The initial flurry of newswire headlines (*1. see end of article) seemed to focus on the offer price of $107.50 per Time Warner share, with the narrative that AT&T was overpaying. I disagree. The bid is sensibly pitched. The issue markets should be focusing on instead, is whether the bid will ever reach completion in […]

The old fox learns a new trick – Murdoch walks away from Time Warner

Having seen the outrageous premium Murdoch paid for the WSJ, markets must have been salivating over how much he might now stump up for Time Warner. Surely, the $86ps ($80bn) offer was a mere opening shot and that the old boy could be bounced into perhaps three figures, or so the narrative went. Not to […]

Murdoch and other people’s money

So you’ve seen the headlines. First Fox’s proposals to consolidate its interests in Sky Italia and Sky Deutschland into BSkyB, described by many as a “tidying up” exercise. Now we are treated to something more substantial to explain the earlier moves; an $80bn (c.$86 ps) plus offer for Time Warner.Â The newswires are of course […]