Comcast Joins In Charter Communications Takeover of Time Warner Cable
January 28, 2014 by Trey Thoelcke
The proposal could allow Charter the chance to bolster its $132.50 per share offer for Time Warner Cable and reduce concerns that the acquisition would leave Charter with too much debt. It also could make the deal more palatable to Time Warner Cable management, which had called the $16 billion bid “grossly inadequate” and said it would not consider any offer that valued the company at less than $160 a share. But some of its largest shareholders are urging the company to engage with Charter.
Of course the Federal Communications Commission would still have to weigh in on the new proposal.
Time Warner Cable’s advisers include Morgan Stanley, Allen & Company, Citigroup and Centerview. Comcast is reportedly working with veteran dealmaker Paul Taubman, who was an adviser to Comcast on its $58.7 billion purchase of AT&T Broadband in 2002 and its $16.7 billion takeover of NBCUniversal.
Shares of Time Warner Cable, Charter Communications and Comcast were inactive in premarket trading.
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