AT&T Inc. (NYSE:T) Expect To Close Time Warner Inc. (TWX) Transaction By The End Of 2017- EXCO Resources (NYSE:XCO)

AT&T Inc. (NYSE:T) [Trend Analysis] retains strong position in active trade, as shares scoring 1.19% to $42.59 in active trade session, while looking at the shares volume, around 16.36 Million shares have changed hands in this session. The European Commission, the executive body of the European Union, has authorized AT&T’s (T) pending acquisition of Time Warner Inc. (TWX). The companies expect to close the transaction by the end of 2017.

“We appreciate the skilled work of the European Commission’s team for their timely effort to analyze and clear the AT&T-Time Warner merger..The global clearance process is on track, and we look forward to creating a company that will lead the next wave of innovation in the media and telecommunications industries,” said Bob Quinn, senior executive vice president, AT&T External and Legislative Affairs.

In October 2016, AT&T reported a definitive contract to purchase Time Warner Inc. in a stock-and-cash transaction valued at $107.50 per share. Both the companies’ boards have unanimously authorized the transaction. This purchase price implies a total equity value of $85.4 billion and a total transaction value of $108.7 billion, including Time Warner’s net debt. The firm has institutional ownership of 56.20%, while insider ownership included 0.05%. T attains analyst recommendation of 2.60 with week’s performance of 1.96%. Investors looking further ahead will note that the Price to next year’s EPS is 3.06%.

EXCO Resources, Inc. (NYSE:XCO) [Trend Analysis] knocking active thrust in leading trading session, shares an increase of 8.47% to 0.64 with around 5.91 Million shares have changed hands in this session. EXCO Resources, Inc. (XCO) reported that a series of transactions that will importantly improve its capital structure, including the issuance of $300 million in aggregate principal amount of senior secured 1.5 lien notes due March 20, 2022 (“1.5 Lien Notes”) and the exchange of approximately $683 million of senior secured second lien term loans due October 26, 2020 for a like amount of senior secured 1.75 lien term loans due October 26, 2020.

The 1.5 Lien Notes were issued to affiliates of Fairfax Financial Holdings Limited, Energy Strategic Advisory Services, LLC, Oaktree Capital Management, LP and an unaffiliated investor. The proceeds from the issuance of the 1.5 Lien Notes were utilized for the repayment of the entire amount outstanding under EXCO’s credit contract, transaction fees and expenses, and general corporate purposes. In connection with these transactions, the Credit Contract was amended to reduce the borrowing base to $150 million, permit the issuance of the 1.5 Lien Notes and the 1.75 Lien Term Loans, and modify certain financial covenants. The stock is going forward its fifty-two week low with 25.49% and lagging behind from its 52-week high price with -66.49%.

Similar, the positive performance for the quarter recorded as -41.28% and for the year was -53.96%, while the YTD performance remained at -26.44%. XCO has Average True Range for 14 days of 0.08.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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