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US: Time Warner picks a buyer

By  |  February 13, 2014

Sources say Comcast Corp has beat out Charter Communications in a bid to acquire Time Warner Cable as the two telcos have agreed on a deal and planned to announce the merger this morning. Comcast CEO Brian Roberts confirmed the news, as expected.

Comcast has inked a transaction with Time Warner and will pay about $159 per share, amounting to a $45 billion purchase.

Charter had previously offered to acquire Time Warner for $37 billion; Time Warner, however, rejected the offer, instead asking for $160 a share.

Earlier reports suggested Charter would revise its deal. But according to the sources, Comcast has apparently won over the cable firm. The acquisition will combine the two largest cable companies in the US, though it remains subject to regulatory clearance.

Full Content: Bloomberg

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