An $80bn deal for Rupert Murdoch to buy Time Warner has been rejected says CNBC. The deal in which Fox was said to offer $85 per share in cash and stock has seen the Time Warner share price naturally up in the pre-market to $85 from the close at $71 last night.
The market likes nothing more than some good juicy takeovers to give it the sense that business is good and even if the deal has been rebuffed it’s unlikely to be the end of the story. The market will be expecting a higher offer and that should keep a bid in indices.
S&P futures are up 7 at 1975 at the moment and the Dow is up 50 at 17038
