Published March 15, 2017 7:29am EDT | Updated March 17, 2017 10:50am EDT

European Commission Approves AT&T's $85 Billion Acquisition Of Time Warner

The European Commission on Wednesday approved AT&T Inc.'s $85 billion acquisition of Time Warner Inc. , AT&T said in a release. The companies are expecting the deal to close by year-end. AT&T shares have gained 9% in the last 12 months, while Time Warner has gained 39%. The S&P 500 has gained 17%.