Actionable news
All posts from Actionable news
Actionable news in KMB: KIMBERLY-CLARK Corp,

5 Things You Must Know Before the Market Opens Monday

Updated from 5:05 a.m. EDT

If you'd like to receive "5 Things" in your email inbox every morning, please register for TheStreet Alerts and follow me.

Here are five things you must know for Monday, Oct. 24:

1. -- AT&T (T) agreed to buy Time Warner (TWX) in an ambitious $85.4 billion deal that would create a powerhouse in global telecommunications, television and film. The agreement was approved by the boards of both AT&T and Time Warner.

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 AT&T is paying way too much for Time Warner.

Mohr, who co-manages Action Alerts PLUS with Jim Cramer as a charitable trust, said the merger's nearly $110 billion in total consideration is "staggering on so many financial levels" and "reeks of strategic desperation and financial destruction."