November 9, 2016 / 6:28 PM / 3 years ago

Factbox: Trump stand on AT&T/Time Warner not indicative of M&A policy - analysts

(Reuters) - Republican Donald Trump, who defeated heavily favored Democratic rival Hillary Clinton in Tuesday’s U.S. presidential election, has said he won’t approve AT&T Inc’s (T.N) $85 billion acquisition of Time Warner Inc TWX.N because the deal represented “too much power in the hands of too few.”

Trump’s comments are not seen as indicative of his overall policy on M&A, although uncertainty about his policies could temporarily stall merger activity, analysts said.

“The talk around being against the Time Warner-AT&T merger was mostly campaign rhetoric, so I don’t think there is going to be a dramatic shift in the approach,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, who expected Trump to be “generally friendly toward corporate America.”

A senior Wall Street banker, who asked not to be named, said “a lot of deals will hit the pause button for a bit until we get some clarity on whether President Trump will moderate or be as disruptive as some expect.”

Here’s a look at some of the biggest mergers and acquisitions announced in 2015 and 2016, but have not been completed.

Companies involved Deal details Date announced Expected date of close

AT&T - Time Warner AT&T agreed to buy Time Warner Inc for $85.4 billion, the 22-Oct-16 Before year-end 2017

boldest move yet by a telecommunications company to acquire

content to stream over its network to attract a growing

number of online viewers.

Dow - Dupont Chemical titans DuPont and Dow Chemical Co agreed to combine 11-Dec-15 Q1 2017

in an all-stock merger valued at $130 billion in a move that

pleased activist investors, would generate tax savings and

trigger more consolidation while drawing scrutiny from

regulators.

Bayer - Monsanto German drug and crop chemical maker Bayer clinched a $66 14-Sep-16 End of 2017

billion takeover of U.S. seeds company Monsanto, ending

months of wrangling with a third sweetened offer that marks

the largest all-cash deal on record.

Qualcomm - NXP Smartphone chipmaker Qualcomm Inc agreed to buy NXP 27-Oct-16 End of 2017

Semiconductors Semiconductors NV for about $38 billion in the biggest-ever

deal in the semiconductor industry, making it the leading

supplier to the fast-growing automotive chips market.

Spectra - Enbridge Canada’s Enbridge Inc to buy Spectra Energy Corp of Houston 6-Sep-15 Early 2017

in an all-stock deal valued then at about $28 billion to

create the largest North American energy infrastructure

company.

GE - Baker Hughes General Electric Co to merge its oil and gas business with 31-Oct-16 Mid-2017

Baker Hughes Inc, creating the world’s second-largest

oilfield services provider as competition heats up to supply

more-efficient products and services to the energy industry

after several years of low crude prices.

Anthem - Cigna Anthem Inc to buy Cigna Corp for about $54.2 billion, 24-Jul-15 2017

creating the largest U.S. health insurer by membership and

reducing the industry to three national players from five.(reut.rs/2eTUCdS)

CenturyLink - CenturyLink Inc to buy Level 3 Communications Inc in a deal 31-Oct-16 Q3 of 2017

Level 3 valued at about $24 billion to expand its reach in the

Communications crowded market that provides communications services to

businesses and compete with rivals like AT&T and Verizon.

Potash Corp - Canadian fertilizer producers Potash Corp of Saskatchewan Inc 12-Sep-16 Mid-2017

Agrium and Agrium Inc agreed to combine to navigate a severe

industry slump by boosting efficiency and cutting costs, but

the new company’s potential pricing power may attract tough

regulatory scrutiny.

Walgreens Boots Drugstore chain Walgreens Boots Alliance Inc to acquire 27-Oct-15 Early 2017

Alliance - Rite smaller peer Rite Aid Corp for $9.4 billion to widen its

Aid footprint in the United States and negotiate for lower drug

costs.

TD Ameritrade - TD Ameritrade has agreed to buy Scottrade for $2.7 billion in 24-Oct-16 Second half of fiscal

Scottrade a deal that would bring together two of the biggest U.S. 2017

discount brokerages, but is expected to face scrutiny from

regulators.

Deere - Precision Monsanto Co’s Climate Corp agreed to sell its Precision 3-Nov-15 -

Planting Planting farm equipment business to Deere & Co for an

undisclosed sum in a move that underscored how turmoil in the

agriculture sector has made it ripe for consolidation

Compiled by Abhijith Ganapavaram, Shashwat Awasthi and Gaurav Dogra; Additional reporting by Aishwarya Venugopal and Soyoung Kim

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