NEW YORK (TheStreet) -- AT&T (T) extended the deadline to terminate its merger agreement with DirecTV (DTV), as the two companies sought to gain final regulatory approval for their merger. Activist shareholder Elliott Management took a 1.3% stake in Alcatel-Lucent (ALU), as Nokia (NOK) aimed to conclude its Alcatel-Lucent merger deal valued at $13.9 billion.
AT&T fell 0.97% to end the day at $35.77, while DirecTV dropped 0.92% to close at $92.83.
The telecom giant and DirecTV slipped as it extended the termination agreement, despite the companies' expectations that it will consummate its merger shortly. According to its filing with the Securities & Exchange Commission, the companies stated:
AT&T and DIRECTV elected to further extend the "Termination Date" of the Merger Agreement for a short period of time to facilitate obtaining final regulatory approval required to close the merger. AT&T expects that the merger will be consummated shortly.
The extension marked the second time in the past couple of months that the termination date was postponed, according to a Reuters report.
Alcatel-Lucent tanked 4.2% to close at $3.65, while Nokia plunged 4.4% to end the session at $6.91.
Alcatel-Lucent fell, despite activist shareholder Elliott Management taking a 1.3% stake in the telecom equipment maker. The company is in the midst of being acquired by Nokia.
Elliott Management took the stake via derivatives contracts for equity swaps, according to a Barron's report. Whether Elliott Management is expecting Nokia to increase its previously announced and agreed to purchase price has yet to be seen.
Odey Asset, a United Kingdom-based hedge fund, previously complained the terms of the agreed buyout price were not that great, according to the Barron's report. Odey holds a 5.3% stake in Alcatel-Lucent.