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AT&T to offer about $100/share for DirecTV: Bloomberg


    (Reuters) - AT&T Inc is expected to offer about $100 per share for DirecTV, valuing the satellite TV provider at around $50 billion, Bloomberg reported, citing people familiar with the matter.

    DirecTV shares rose 6 percent to $92.50 in extended trading on Monday.

    Earlier in the day, the Wall Street Journal reported that AT&T is expected to strike a deal with DirecTV in as early as two weeks, citing sources. (http://link.reuters.com/zuf39v)

    The companies are discussing a cash-and-stock deal, the sources told the Journal.

    DirecTV management will continue to run the company as a unit of AT&T and DirecTV Chief Executive Mike White plans to retire after 2015, the people told Bloomberg. (http://link.reuters.com/xyf39v)

    DirecTV is working with advisers including Goldman Sachs Group to evaluate a possible combination following a recent takeover approach, Reuters reported last week.

    AT&T and DirecTV declined to comment.

    (Reporting by Abhirup Roy in Bangalore and Marina Lopes and Jennifer Saba in New York; Editing by Sriraj Kalluvila)