As it turns out, The DOJ isn’t ready to let a federal judge’s decision to kill its challenge to the AT&T-Time Warner merger go unchallenged.
As a reminder, Judge Leon advised the government not to seek a stay of the ruling to prevent the DOJ from pushing the deal past its deadline, which was at that time only days away. Furthermore, Leon declared that seeking a stay would be a “manifest injustice.”
A month after the judge’s ruling was handed down – and after the judge effectively warned the federal government not to appeal – the DOJ has done just that, reviving the federal government’s fight to block the $85 billion ‘vertical integration’ deal, the Wall Street Journal reported.
The news sent shares of AT&T lower just under 2% in the after-market:
Investors will now be looking out for more information regarding what aspect of the judge’s ruling the DOJ will choose to challenge.
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Author: Tyler Durden