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[$$] The AT&T--Time Warner Shocker

The news last Thursday that the Department of Justice had decided to appeal the June 12 decision to allow AT&T (T) to merge with Time Warner sent AT&T shares skidding some 1.7% on Friday. Unless something dramatic changes, this appeal of an embarrassing defeat for the DOJ looks more like political posturing than an existential threat. For one thing, the DOJ has said nothing about what it will argue in its appeal.