- AT&T (NYSE:T) has received bids for its DirecTV unit valuing it at more than $15B including debt, The Wall Street Journal reports, as the process moves into the late stages.
- That means there could be a deal completed by early in 2021.
- AT&T shares are up 3% to a session high.
- Among those offering bids over the $15B mark was Michael Klein's blank-check firm Churchill Capital Corp. IV (CCIV +0.4%), according to the report.
- Meanwhile, Apollo Global Management (APO -0.8%), linked to the discussions for some time, has submitted a bid valuing DirecTV under $15B, the WSJ says.
- Churchill Capital IV, which raised $2.07B in July, was linked to the DirecTV talks in November with an eye to a deal around $15B.
- The price is still a fraction of what AT&T paid for the assets five years ago: about $48.5B, or $67.1B including debt.