July 18, 2001

AT&T rejects Comcast bid

Author: JT Smith

AT&T's board of directors on Wednesday rejected Comcast's unsolicited $44.5 billion bid for its cable unit. The company felt that the offer simply didn't reflect the value of its cable and broadband operations, and that the proposed multi-tier voting structure the deal offered would mean AT&T shareholders ended up with less of a say in corporate matters. The rejection of the deal opens the door to other potential suitors. Full story at CNNFN.

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