DirecTV Shareholders Approve AT&T Takeover

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DirecTV shareholders on Thursday signed off on AT&T’s $48.5 billion acquisition offer, DirecTV announced Thursday.

Ninety-nine percent of voting shareholders, representing 77 percent of outstanding shares, approved the deal, DirecTV said.

AT&T proposed the deal in May. It is still awaiting regulatory approval. DirecTV expects it to close in the first half of next year. Under terms of the deal, DirecTV shareholders would receive $95 a share in cash and AT&T stock.

DirecTV shares closed down one-half of a percent to $86.39 in Thursday trading on the Nasdaq. Shares rose one-tenth of one percent to $86.50 in afterhours trading.

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