Charter makes $61.3 billion offer to acquire Time Warner Cable
After months of rumors that the company was on the tablet, it looks like a deal may soon be reached for Time Warner Cable. According to a report from Bloomberg, Charter Communications will seek to acquire Time Warner Cable for $132.50 per share, pending approvals of course. The deal will see Charter pay $83 per share of Time Warner Cable, plus $49.50 per share in Charter stock. “Charter today sent a letter to Time Warner Cable Chief Executive Officer Rob Marcus, explaining why the company’s offer is beneficial for shareholders,” Bloomberg’s Alex Sherman reported. “Charter is attempting to acquire Time Warner Cable, a company with an enterprise value more than twice Charter’s size, to create a provider of TV, Internet and phone for about 20 million customers in 38 states. Rutledge said he last proposed an offer in late December, around Christmas, which Marcus rejected.”
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