Time Warner’s stock price leaped in after-hours trading in the minutes following a judge’s approval of the company’s $85.4 billion acquisition by AT&T.
Time Warner stock price is up 4.71 percent to $100.70 per share as of 5:08 p.m. ET, after closing Tuesday afternoon at $96.22 per share. AT&T, meanwhile, is down 1.8 percent to $33.73 per share as of 5:08 p.m. ET, after closing at $34.35.
U.S. District Court Judge Richard Leon approved the two companies’ $85.4 billion merger. The deal had no conditions, CNBC reported.
21st Century Fox, which has a deal of its own to sell off its assets to The Walt Disney Company, saw its stock price jump 5.37 percent in after-hours trading to $42.56 per share at 5:08 p.m. ET. It closed at $40.39 per share on Tuesday. Disney’s stock price dipped 1.33 percent to $102.94 per share, after closing at $104.33 per share.
Comcast, which signaled weeks ago that it was preparing a superior all-cash bid to usurp Disney’s, saw its stock price decline 3.55 percent at 5:08 p.m. ET to $31.23 per share, after closing at $32.38 a share. It is widely expected that Comcast will formally submit its bid for Fox’s assets in the next day or two.