The talks between AT&T Inc. (NYSE:T) and DirecTV are heating up. AT&T is reportedly going to acquire DirecTV for $50 billion, according to Bloomberg. DirecTV will be semi-independent following the acquisition.
DirecTV CEO Mike White will stay at the company until 2015 and the deal may happen in two weeks. The Wall Street Journal first reported on the talks between the two companies around the beginning of May.
This acquisition values DirecTV at around $100 per share, which is a 15% premium over the closing share price on Monday.