Comcast-Time Warner Deal Ends Charter’s Acquisition Hopes

A Time Warner building in North Carolina | Photo courtesy of Creative Commons
Time Warner rejected a buyout offer by Charter Communications in January. | Photo courtesy of Creative Commons

After rejecting a bid by Charter Communications, Time Warner Cable agreed to be acquired by Comcast, the largest cable provider in the U.S., in an all-stock deal worth more than $44 billion, or $158.82 per share.

Charter, which is based in Connecticut but has a large presence in the St. Louis area, tried for eight months to take over Time Warner, the second-largest U.S. cable company. Charter is the country’s fourth-largest cable company, and its most recent bid for Time Warner Cable was for $132.50 per share.

Time Warner Cable had said a deal closer to $160 per share would be more appropriate. Time Warner Cable stock closed at $135.31 per share Wednesday.

Read more from the St. Louis Business Journal

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