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NYSE: TWX

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Time Warner Inc. (NYSE: TWX) Stock Plummets as Fox Deal Falls Through

By , Associate Editor, Money Morning • @KyleAndersonMM -

Time Warner Inc. (NYSE: TWX) stock is down more than 12% in morning trading today following last night's news that Rupert Murdoch's Twenty-First Century Fox Inc. (Nasdaq: FOXA) has removed its $80 billion offer to purchase the company. TWX stock opened at $74.90 after closing yesterday at $85.19.

The statement came as a surprise to TWX investors who had pushed TWX stock to a 52-week high of $88.13 in mid-July shortly after the offer had been announced.

Here’s why the deal fell through the morning…