The Department of Justice is reportedly considering an antitrust lawsuit against AT&T Inc. (T) - Get Report in its bid to acquire Time Warner Inc. (TWX) , according to a report from the Wall Street Journal.
The Justice Department is said to be in settlement talks with the companies that could lead to the approval of a deal under specific conditions. AT&T officials have reportedly met with the Justice Department in recent weeks, but they are not considered to be close to striking an agreement.
AT&T struck a deal to buy Time Warner for more than $85 billion last October.
AT&T stock was down 1.34% to $33.10 in midday trading Thursday. Time Warner shares were lower 5.81% to $92.68. Both were trading on heavy volume.
This is a developing story.
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