AT&T Purchases DirecTV for $48.5M; Credit Suisse Charged With Aiding Tax Evasion
Stocks close the day slightly up due to corporate dealmaking. AT&T (T) announced today that they will be purchasing DirecTV (DTV) for $48.5 million. While this acquisition ended with a deal, not all acquisitions were as successful today. AstraZeneca (AZN) rejected Pfizer's (PFE) "final takeover offer" of £69.4 billion; as a result AstraZeneca's shares fell 11% on the London Stock Exchange.U.S. authorities charged Credit Suisse with helping wealthy American clients evade millions of dollars in U.S. taxes. It is expected that Credit Suisse will have to pay approximately $2.5 billion in fines.
Word on the Street
- S&P 500's 9 fastest growing companies.
- Target's (TGT) ousted CEO receives $15.9 million severance.
- Investors remain optimistic despite recent slumps.
- AT&T (T) purchases DirecTV (DTV) for $48.5 billion.
- Verizon (VZ) rolls out massive network update.
- Twitter (TWTR) is looking into purchasing SoundCloud.
- AstraZeneca (AZN) rejects Pfizer offer.
Published on May 19, 2014By InvestorGuide Staff