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Report: Charter close to dropping $55 billion for Time Warner Cable

Will Time Warner Cable accept a $55 billion buyout from Charter?
By: Michael Hatamoto | Business, Financial & Legal News | Posted: May 26, 2015 1:35 am

Comcast couldn't get a deal done to purchase Time Warner Cable, but it looks like Charter Communications is one step closer. Charter and TWC are reportedly close to a $55 billion acquisition deal, in what would help create a sudden new cable powerhouse.

 

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The $55 billion acquisition is 47 percent higher than what Charter offered in 2014 - and 14 percent higher than TWC's most recently closing stock price. It's possible a public announcement could be made as soon as Tuesday morning, with the deal pending government approval.

 

Following news that Comcast was unable to acquire TWC, there seemed to be immediate interest from Charter once again. The Comcast-TWC merger would have given the company around 40 percent control of the competitive high-speed broadband market - while a Charter-TWC deal would be about 20 percent overall market share.

NEWS SOURCES:Finance.yahoo.com, Images.bidnessetc.com

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