Needham & Company Upgrades Time Warner Cable (TWC) to Hold
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Charter Communications (CHTR) to Acquire Time Warner Cable (TWC) for ~$196/Share in Cash, Stock
May 26, 2015 6:08 AM EDTCharter Communications (Nasdaq: CHTR) and Time Warner Cable Inc. (NYSE: TWC) announced that they have entered into a definitive agreement for Charter to merge with Time Warner Cable. The deal values Time Warner Cable at $78.7 billion. Charter will provide $100.00 in cash and shares of a new public parent company ("New Charter") equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. The deal values each Time Warner Cable share at approximately $195.71 based on Charter's market closing price on May 20, or approximately $200 based on Charter's 60-trading day... More
