DOJ will not seek a stay in AT&T merger, allows deal to close pending potential appeal

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The Justice Department has agreed to let AT&T complete its purchase of Time Warner, according to joint government filings, likely clearing the way for the deal to be completed as soon as June 15. A federal judge ruled June 12 that AT&T's $85.4 billion bid for Time Warner was legal, imposing no conditions on the merger. The government had the option to seek a stay, delaying the merger for a designated waiting period, but has forgone that option. The Justice Department can still appeal the decision, even after the completion of a merger. "We understand that, based on these representations, the Department of Justice has no objection to closing this merger as soon as possible, including later this week, and will [forgo] a request for a stay pending appeal," Daniel M. Petrocelli, counsel for AT&T and Time Warner, said in a letter to the DOJ.


DOJ will not seek a stay in AT&T merger, allows deal to close pending potential appeal AT&T: DOJ Won't Seek Stay of Time Warner Deal (B&C)