Thursday 13 February 2014

Comcast to takeover Time Warner Cable

Time Warner Cable will be sold to Comcast at $158.82 per share or 45.2 billion in stock. This deal will combine the nation’s top two cable TV companies.
The deal was approved by the boards of both companies and, pending regulatory approval, is expected to close by the end of the year, the people said. The people spoke on condition of anonymity because the deal had not been announced formally. An announcement is set for Thursday morning, they said.

The price is about 17 per cent above Time Warner Cable shares’ on Wednesday closing price of $135.31 and trumps a proposal by Charter Communications to buy Time Warner for about $38 billion in cash and stock worth $132.50 per share.
Time Warner Cable shareholders will receive 2.57 Comcast shares for every Time Warner Cable share they own. Once the deal is final, they will end up owning about 23 per cent of the combined company, one of the people said.

Source: http://cablequest.org/news/international-news/item/4275-comcast-to-takeover-time-warner-cable.html
Source: http://cablequest.org/news/international-news/item/4275-comcast-to-takeover-time-warner-cable.html

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