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Comcast said to buy Time Warner Cable in over $45 billion deal
2014-02-13 13:26:15| InfoWorld: Top News
Comcast is expected to announce Thursday that it will acquire Time Warner Cable in an all-stock deal, according to reports. The acquisition will combine the top two cable operators in the country, and may end a long-standing bid by another cable operator, Charter Communications.
Comcast confirms Time Warner Cable takeover for USD 45 bln
2014-02-13 13:08:00| Telecompaper Headlines
(Telecompaper) Comcast has agreed to acquire Time Warner Cable, in a deal valuing the US' second-largest cable operator at USD 45.2 billion. TWC agreed to the offer worth USD 158.82 per share, after earlier rejecting a bid of USD 132.50 per share from the smaller Charter Communications. Comcast will pay all in stock for TWC, offering 2.875 of its own shares for each TWC share, giving TWC shareholders 23 percent of the combined company. The companies expect to generate synergies of USD 1.5 billion from integrating their operations; including these synergies, Comcast said the deal values TWC at 6.7 times operating cash flow. Comcast said it will sell operations with around 3 million subscribers in order to keep its market share below 30 percent after the takeover. This will give it a net 8 million new customers from TWC, for a total base of 30 million. Pending regulatory and shareholder approval, the deal is expected to close by the end of 2014.
Comcast agrees USD 44 bln bid for Time Warner Cable - report
2014-02-13 09:18:00| Telecompaper Headlines
(Telecompaper) Comcast has agreed to acquire Time Warner Cable for about USD 44 billion in an all-stock deal, according to multiple press reports in the US. Comcast is offering a premium of around 18 percent on TWC's last closing share price, valuing the company at EUR 159 per share. This beats an earlier offer of USD 132.50 from Charter Communications, which TWC deemed inadequate. The deal to merge the two largest cable operators in the US will likely require Comcast to sell off some assets. One source told Bloomberg that Charter is unlikely to match Comcast's bid but will look to acquire some of the assets Comcast would sell. Comcast is expected to offer to divest about 3 million subscribers to keep its market share below 30 percent and secure regulatory approval for the merger.
Comcast 'to buy Time Warner Cable'
2014-02-13 07:51:09| BBC News | Business | UK Edition
Comcast reportedly plans to buy Time Warner Cable for about $45bn (27bn), creating a company that could control three-quarters of the US cable industry.
Comcast to buy Time Warner Cable for $45 billion
2014-02-13 06:46:22| Telecom - Topix.net
This Feb. 11, 2011 file photo shows the Comcast logo on one of the company's vehicles, in Pittsburgh.
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