DirecTV, AT&T Extend Merger Termination Date

As expected, DirecTV and AT&T have agreed to extend the termination date of their planned $48.5 billion merger “for a short period,” as the deal winds through the regulatory approval process, DirecTV said. In a brief filing with the SEC, DirecTV and AT&T said they have elected to extend the May 18, 2015 ‘Termination Date’ of the merger agreement for a short period of time to facilitate obtaining final regulatory approval required to close the merger.”

DirecTV agreed to be acquired by AT&T on May 18, 2014 and the termination date – which would allow the parties to end the deal if a final agreement wasn’t reached – was set at the time for one year after. As that anniversary is quickly approaching, both parties were expected to extend the date as the merger continues to go through the approval process. While the Federal Communications Commission stopped the 180-shot clock on the merger on March 13, it is expected the deal will be approved. Most analysts expect the merger to pass muster sometime in July.