American multinational telecommunications corporation AT&T has announced its plan to acquire satellite service provider DirecTV, the New York Daily News reported on May 18.

AT&T stated that it intends to buy DirecTV for $49 billion, or $95 per share. The company believes the acquisition would significantly speed-up its internet services by switching existing AT&T internet TV subscribers to a video via satellite subscription. The telecom giant also believes the acquisition would give the company a more competitive stance against cable companies Time Warner Cable and Comcast, who recently announced their merger earlier this year.

The acquisition currently awaits approval from U.S. regulators.

Business processes such as mergers and acquisitions can be beneficial for your business, especially when guided by knowledgeable and experienced legal counsel. If you are considering such legal processes for your business in Cedar Rapids, an attorney at Arenson Law Group, PC may be able to assist you in securing your business interests. Call us today at (319) 363-8199 to learn more about your options.

Written by James H. Arenson

Last Updated : May 23, 2014