US: Fox enters record books with failed Time Warner deal

Twenty-First Century Fox has reportedly set a record in its failed acquisition of Time Warner.

According to reports, the cancelled merger is the second-largest merger ever to end in cancellation. Capital IQ had valued the transaction at $98 billion.

That figure is second only to MCI Worldcom’s cancelled buyout plans to take over Sprint in 2000. That deal was valued at $127.8 billion say reports.

Further, Fox’s decision not to continue a Time Warner deal lowers the value of public US mergers to $968 billion, Capital IQ found.

To date, about $227 billion worth of acquisition deals have been made in the country.

Full content: Benzinga

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