Updated from 5:05 a.m. EDT
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Here are five things you must know for Monday, Oct. 24:
1. -- AT&T (
The deal, which would be half in cash and half in stock, values Time Warner at $107 a share, a 20% premium to its $89.48 closing price on Friday. Time Warner shareholders will receive $53.75 a share in cash and $53.75 a share in AT&T stock. The total transaction value is $108.7 billion, including Time Warner's net debt.
Time Warner shares were fairly flat in premarket trading on Monday, while AT&T shares declined 2.1%.
TheStreet's chief investment strategist, Jack Mohr, said
Mohr, who co-manages