New York Post

Fox, Time Warner stocks get amore

- By CARLETON ENGLISH

Get ready for more dealmaking.

Moments after a federal judge on Tuesday cleared the way for AT&T’s $85 billion purchase of Time Warner, shares of possible acquisitio­n targets spiked as Wall Street started licking its chops.

The ruling in the AT&T case was the opening bell for increased M&A, many believe.

Shares of Time Warner gained 4.4 percent in after-hours trading, to $100.47.

AT&T, meanwhile, saw its share price fall 2.1 percent, to $33.63.

The ruling on AT&T by Judge Richard Leon also affected the trading of other companies whis- pered about in M&A circles.

Twenty-First Century Fox, which is expected to become the object of a bidding war between Disney and Comcast, saw its shares climb 4.6 percent, to $42.25.

Disney shares fell 1.7 percent, to $102.57, while Comcast shares plunged 3.9 percent, to $31.12.

Comcast was reported to be planning a hostile all-cash bid for Fox that would challenge Disney’s stock offer.

Outside of media, other M&A targets also got some love.

Aetna, which is about to be acquired by CVS Health in a $68 billion deal, saw its shares jump 3.5 percent, to $187.

Shares of Express Scripts, which is about to be acquired by Cigna, soared 4.9 percent, to $83.05.

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