Time Warner Cable/NaviSite
On February 1, 2011, Time Warner Cable Inc. (NYSE: TWC) and NaviSite, Inc. (Nasdaq: NAVI) announced that they have entered into an agreement whereby Time Warner Cable will acquire NaviSite for $5.50 per share in cash, or a total consideration of $230 million.
Closing is expected in Q211.
Time Warner Cable expects to utilize NaviSite's net operating losses, which Time Warner Cable believes will yield a net present value of approximately $40 million in tax savings after closing.
Deutsche Bank Securities Inc. and Paul, Weiss, Rifkind, Wharton & Garrison, LLP acted as advisors for Time Warner Cable.
BRL Law Group LLC acted as advisor for NaviSite, and Raymond James and Richards, Layton & Finger, P.A. acted as advisors for NaviSite's Special Committee of its Board of Directors.
Closing is expected in Q211.
Time Warner Cable expects to utilize NaviSite's net operating losses, which Time Warner Cable believes will yield a net present value of approximately $40 million in tax savings after closing.
Deutsche Bank Securities Inc. and Paul, Weiss, Rifkind, Wharton & Garrison, LLP acted as advisors for Time Warner Cable.
BRL Law Group LLC acted as advisor for NaviSite, and Raymond James and Richards, Layton & Finger, P.A. acted as advisors for NaviSite's Special Committee of its Board of Directors.
