The early word on AT&T’s proposed $84.5 billion offer for Time Warner Inc. is that it will likely face antitrust scrutiny, given the colossal nature of the transaction in the media and telecommunications space.
So far, two law firms have scored major roles in the deal: Sullivan & Cromwell is advising AT&T and Cravath Swaine & Moore is advising Time Warner Inc on the deal, according to a prospectus .
It lists Sullivan & Cromwell partners Joseph B. Frumkin, in New York, and Eric M. Krautheimer, in Los Angeles, as the point people for AT&T while Cravath’s recently elected chair, Faiza J. Saeed, and Eric L. ...