TWC Stock – Time Warner Cable Rejects $62B Bid From Charter

by Christopher Freeburn | January 14, 2014 9:56 am

time warner cable 300x199 TWC Stock   Time Warner Cable Rejects $62B Bid From Charter[1]Time Warner Cable (TWC[2]) quickly dismissed the latest merger offer[3] from Charter Communications (CHTR[4]) on Monday.

Charter says it would pay $132.50 in cash and its own shares for TWC stock. Including debt, the entire deal is valued at $62.35 billion. It is third bid Charter has made for Time Warner Cable. Holders of TWC stock would end up with a 45% stake in the combined company if the deal goes through, Reuters notes.

News of the latest bid sent TWC stock up more than 2% in Tuesday morning trading, while CHTR stock climbed modestly.

TWC’s board called the new offer “grossly inadequate.” TWC stock has gained more than 40% since May, mostly on rising speculation that the pay TV service provider was an acquisition target[5].

Charter is controlled by billionaire John Malone’s Liberty Media (LMCA[6]). Malone has expressed interest in consolidating cable TV providers[7].

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  2. TWC:
  3. quickly dismissed the latest merger offer:
  4. CHTR:
  5. was an acquisition target:
  6. LMCA:
  7. in consolidating cable TV providers:

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