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Charter agrees Time Warner Cable, Bright House takeovers
2015-05-26 12:05:00| Telecompaper Headlines
(Telecompaper) Charter Communications confirmed an agreement to acquire Time Warner Cable for USD 78.7 billion including debt. The cash-and-shares deal values TWC at USD 195.71 per share, based on Charter's latest share price, or USD 200 based on the average share price in the past 60 days. Charter also announced that it reached an agreement with Advance/Newhouse on acquiring Bright House Networks for USD 2 billion cash plus a minority stake in the merged operator. Assuming both deals are completed, Advance/Newhouse will own 13-14 percent of 'New Charter', TWC shareholders will have 40-41 percent and Liberty Broadband will hold 19-20 percent. The exact ratios will depend on how many TWC shareholders opt for cash or shares under the Charter offer. Liberty Broadband, controlled by cable mogul John Malone and currently Charter's largest shareholder, has agreed to buy USD 4.3 billion of new shares in Charter after the closing of the TWC takeover. It also earlier agreed to buy USD 700 million in Charter as part of the Bright House deal, in order to avoid dilution of its stake in Charter. The combination of Charter, Time Warner Cable and Bright House will create the US's second-largest cable operator, serving 23.9 million customers in 41 states.
UPS agrees to settle government customer case
2015-05-25 03:58:08| Air Courier - Topix.net
United Parcel Service Co. agreed to pay more than $25 million to settle complaints that it kept false records to hide late deliveries of overnight packages to government customers.
Tags: case
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UPS agrees to settle government customer case
2015-05-25 03:35:52| Trucking - Topix.net
United Parcel Service Co. agreed to pay more than $25 million to settle complaints that it kept false records to hide late deliveries of overnight packages to government customers.
Tags: case
customer
government
ups
HP agrees JV with Tsinghua for China server business
2015-05-21 15:00:00| Telecompaper Headlines
(Telecompaper) HP announced an agreement to spin off its enterprise business in China in a joint venture with Tsinghua University. Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51 percent stake in a new business called H3C, comprising H3C Technologies and HP's China-based server, storage and technology services businesses, for approximately USD 2.3 billion, valuing the total business at USD 4.5 billion (net of cash and debt). With around 8,000 employees and USD 3.1 billion in annual revenue, the new H3C will be market leader in China in networking and a leader in servers, storage and technology services, HP said. The company will be able to leverage Tsinghua's research capacity to expand further its portfolio. The new H3C will become a subsidiary of Unisplendour, a publicly traded operating subsidiary of Tsinghua Holdings, the asset management arm of Tsinghua University in China. The transaction is expected to close near the end of 2015, subject to Unisplendour shareholder vote, regulatory approvals and other closing conditions.
Tags: business
china
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agrees
Brookfield agrees to acquire graphite maker GrafTech for $546-million
2015-05-20 03:33:05| Electronics - Topix.net
Brookfield Asset Management Inc. agreed to acquire GrafTech International Ltd., a U.S. maker of graphite used in electrodes, in a deal valued at about $546-million . Brookfield is offering $5.05 a share in cash, Independence, Ohio-based GrafTech said Monday in a statement, a 2-per-cent premium to Friday's closing price.
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