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Time Warner Cable rejects Charter takeover approach
2014-01-14 08:46:00| Telecompaper Headlines
(Telecompaper) Time Warner Cable has rejected a takeover bid from Charter Communications, saying it "grossly" undervalues the company. TWC said this is the third approach it's had from Charter. The proposal was described only generally in a letter from Charter as being in the "low USD 130s", compared to TWC's current share price of around USD 132. Based on an interview with Charter CEO Tom Rutledge , Bloomberg reported that the offer was for USD 132.50, consisting of USD 83.00 in cash and USD 49.50 in Charter stock. TWC said Charter had previously offered cash and stock valued at USD 114 per share in June and USD 127 in October. Rob Marcus , Time Warner Cable's chairman and CEO, said the offer was a "non-starter", at just 7x EBITDA or "well below past transactions in the cable sector". Not only is the nominal value too low, the high share of payment in stock offers little to TWC shareholders, he said. According to the CEO, TWC made clear to Charter in later December that it was interested in a bid closer to USD 160 per share, including at least USD 100 in cash. Charter said in a statement that it had made "repeated overtures" to Time Warner Cable in the past six months, but only in December did the company engage in talks. Charter expects the possibility of a takeover and a premium bid has already been largely priced into TWC's share price. The response from Time Warner Cable's management led Charter to believe they had no intention of starting merger talks, so Charter is now making its proposal directly to shareholders.
Tags: time
approach
cable
charter
Cogeco, Cogeco Cable both see big increase in Q4 revenue, profit
2014-01-14 08:24:51| Telecom - Topix.net
Telecommunications and media company Cogeco Inc. and its main subsidiary, Cogeco Cable Inc. are both reporting big increases in fourth-quarter revenue and net earnings.
Tags: big
increase
cable
profit
General Cable Launches New Mobile Web Reference Tool for Carol® Brand Electronic ...
2014-01-14 06:00:00| Industrial Newsroom - All News for Today
HIGHLAND HEIGHTS, KENTUCKY — General Cable (NYSE: BGC) is pleased to unveil the new Mobile Web Reference Tool for Carol® Brand electronic wire and cable. Equipped with a competitor cross reference and a product directory, the Mobile Web Reference is designed to allow users to quickly and easily find Carol Brand equivalent products and their specs from anywhere, at any time.<br /> <br /> Never has it been easier to spec Carol cables. By navigating to <a ...
Tags: web
general
reference
mobile
Cogeco Cable Inc. Reports First Quarter 2014 Financial Results
2014-01-14 02:30:22| Digital TV News
Cogeco Cable (TSX:CCA) has announced results for the first quarter of fiscal 2014, ended November 30, 2013. For the quarter Canadian net TV customer losses stood at 7,122, with US customer net losses amounting to 1,971.
Tags: results
reports
financial
cable
Charter bids for Time Warner Cable
2014-01-14 01:27:59| BBC News | Business | UK Edition
US cable TV operator Charter Communications says it is offering more than $60bn (37bn) to buy Time Warner Cable, its larger rival.
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