(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
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
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
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
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
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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