The AT&T–Time Warner Merger Is Already What the Government Feared

It’s been quite a week for AT&T. One of the largest providers of wireless, internet, and cable TV in America, it closed an $85.4 billion deal last Thursday to acquire Time Warner, one of the biggest entertainment companies in the world, after a federal court blessed the merger over the Justice Department’s objections. Judge Richard Leon, of the U.S. District Court for D.C., had rejected the government’s argument that AT&T would lessen competition by leveraging Time Warner’s “must-have” television content to drive rival customers to its products.

Bell's Buyout Of MTS 'Will Likely Mean Sharply Increased Prices'

The heads of Bell and MTS deny it, but consumer advocates fear the merger of the two companies will mean higher prices in Manitoba and an end to hopes of four major wireless carriers nationwide.

And at least one industry analyst says the deal poses enough of a threat to consumers to have a hard time getting government approval.

Obama Kills Largest Corporate Attempt Yet To Flee Overseas And Dodge Taxes

The largest-ever corporate merger to skip out on American tax obligations is now kaput.

Drug giant Pfizer is giving up on its corporate marriage to Ireland-based Allergan after an Obama administration policy change designed to prevent U.S. companies from fleeing taxes by moving their mailing address abroad. The $160 billion merger cemented last fall would have produced significant tax savings for Pfizer, at the expense of the American public.

A Dow-DuPont Merger Would Raise Big Questions

The news that Dow Chemical and DuPont, two of America’s oldest industrial corporations, are close to agreeing on a merger can hardly be regarded as big surprise. In recent years, both companies have been targeted by Wall Street hedge funds looking to make a score. And, a couple of months ago, DuPont appointed a new chief executive, Edward Breen, who is known as a deal maker, having disassembled the conglomerate Tyco International after its C.E.O., Dennis Kozlowski, was arrested and jailed.

Charter Reportedly Near $55 Billion Deal To Acquire Time Warner Cable

May 25 (Reuters) - Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about $55 billion, combining the second and third largest U.S. cable operators, people familiar with the matter said on Monday.

A deal would create a major rival to Comcast Corp, the biggest operator in the U.S. cable and broadband market, and marks a triumph for Charter, which was rejected by Time Warner Cable just last year.

FCC Staff Recommends Hearing on Comcast-Time Warner Cable Merger

The Federal Communications Commission’s staff threw up a significant roadblock Wednesday to Comcast Corp.’s proposed acquisition of Time Warner Cable Inc., recommending a procedural move that could potentially sink one of the media industry’s biggest mergers in years.

The FCC staff reached a conclusion that the best option for the FCC is to issue a “hearing designation order,” according to people familiar with the matter. In effect, that would put the $45.2 billion merger in the hands of an administrative law judge, and would be seen as a strong sign the FCC doesn’t believe the deal is in the public interest.

Inside the $316-Million Postmedia-Quebecor Deal

Postmedia Network has struck a $316-million deal with Quebecor Media to purchase all of Sun Media's 175 English-language newspapers and digital properties.

The deal is subject to approval by the Competition Bureau, which will likely take several months. But if it goes through, it would give Postmedia a major presence in many Canadian cities -- such as Calgary, Edmonton, Ottawa and Vancouver -- where it would own both the daily broadsheet and tabloid newspaper.

Time Warner Cable Makes Hilariously Absurd Argument For Comcast Merger

Anybody who's ever tried to stream a movie or use the web on a 3G or 4G LTE network knows it is no competition for a Wi-Fi connection, at least in terms of cost and reliability. And yet Comcast and Time Warner Cable, hilariously, want us to believe it is.

The two companies are currently engaged in a full-court press to convince regulators and lawmakers that Comcast's $45 billion takeover of Time Warner Cable -- which would create a behemoth of a company that controls nearly 40 percent of the U.S. broadband market and provides cable to almost a third of American homes -- isn't anti-competitive and is in the public interest.

Bell-Astral Deal: CRTC To Take Second Look At Merger

MONTREAL - Bell is heading to the CRTC for a second time in hopes that its plan to sell off the majority of Astral Media's TV channels will be enough to appease the regulator's worries its takeover of the media company would not be good for Canadians.

A new round of public hearings on Bell's revised plan to buy Astral starts Monday after the Canadian Radio-television and Telecommunications Commission killed the plan last fall, citing concerns it would restrict choice and raise prices for consumers.

Amazon Acquires Goodreads: World's Biggest Online Retailer Acquires Beloved Book Site

Amazon is buying the web's largest online books community Goodreads, it was announced yesterday. Details of the purchase weren't revealed, but Forbes columnist Jeff Bercovici said that it was "likely to have been in the low eight digits."

Bell-Astral Merger Approved By Competition Bureau

OTTAWA - The Competition Bureau approved Bell's proposed $3.38-billion takeover of Astral Media Inc. on Monday, but is forcing the company to sell several of Astral's pay and specialty television channels.

Bell will, however, keep eight of Astral's TV channels including the Movie Network, which includes HBO Canada, and TMN Encore as well as the French-language SuperEcran, CinePop, Canal Vie, Canal D, VRAK TV, and Z Tele.

American Airlines, US Airways Merger Likely A Bad Deal For Customers: Consumer Advocates

Air travelers may end up losing big in a deal that would create the largest airline in the U.S., consumer advocates told The Huffington Post, after various leaks this week suggested such a merger was imminent.

Reports in the financial media Thursday and Friday noted that after months of complicated haggling, US Airways and the bankrupt parent company of American Airlines were almost ready to announce a corporate marriage.

Panel urges hydro mergers

Ontario’s 75 local hydro utilities should be consolidated into 8 to 12 regional companies, says a three-man panel appointed by the province.

The panel predicts is would result in substantial savings for customers – about $1.7 billion over ten years, through streamlining and reduced borrowing costs.

Big unions want to open up membership in merger

The two unions contemplating the biggest merger in Canadian labour history want to open membership to workers who don’t have bargaining rights.

In a revolutionary move for the labour movement in North America, a committee of the Canadian Auto Workers (CAW) and Communications, Energy and Paperworkers (CEP) unions will reveal the proposal Wednesday as part of an “innovative plan” to attract and organize many more employees, a centrepiece in their merger talks.

“We would be opening up the union to a whole new group of workers who we can’t reach right now,” Gaétan Ménard, CEP’s secretary treasurer and a committee member, said Tuesday. “We get to really walk the talk.”

Glencore-Xstrata deal meets shareholder opposition

At least two top 10 shareholders in miner Xstrata PLC plan to vote against a takeover by commodities trader Glencore International, threatening the creation of a powerhouse spanning mining, agriculture and trading.

Standard Life Investments and Schroders said on Tuesday the deal, the mining sector’s biggest, to buy the remaining 66 per cent of Xstrata for $41-billion (U.S.), undervalued their shares.

The deal, designed to create a company to rival mining heavyweights such as BHP Billiton and Rio Tinto, needs to be approved by 75 percent of shareholders excluding Glencore, which is barred from voting.

Standard Life, the fourth largest investor in Xstrata, and Schroders together own 3.6 percent of Xstrata, but 5.6 percent of the shares needed for approval, according to Thomson Reuters data. Their stand may persuade others to follow suit.

“I’m in complete agreement with Standard Life and we intend to do exactly the same. This is a fabulous deal for Glencore, it’s probably a great deal for the Xstrata management, but it’s a poor deal for Xstrata’s majority shareholders,” Schroders’ Richard Buxton told Reuters.

Miners Xstrata, Glencore agree to $90B merger

Mining company Xstrata and commodities dealer Glencore agreed to a $90 billion US merger Tuesday that will create the world's fourth largest natural resources company.

The announcement of the terms of the deal comes just a few days after the revelation that the two companies were in discussions about a long-mooted tie-up — merger discussions, codenamed "Everest," have gone on for years.

The mining giant would operate around the world, including major nickel mining and refining businesses in Canada, where Xstrata subsidiary Xstrata Nickel owns the former Falconbridge nickel company in Sudbury, Ont.

The combined company will control a chain of businesses from mining to refining, storage and shipping of basic commodities like coal, copper and corn.

Under the terms of the deal, Xstrata shareholders would receive 2.8 Glencore shares for each of their shares. That represents a premium of 15.2 per cent based on Monday's closing prices. Glencore already had a 34 per cent stake in Xstrata.

The merger is projected to yield cost savings of $500 million in the first full year, primarily in marketing, while creating the world's fourth largest global diversified natural resource company, with operations in 33 countries. It will also give the combined company greater leverage to borrow money for its operations — a key advantage in the high-volume, low-margin commodities business.