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Charter preparing official bid for US cable firm Time Warner

December 13
5:15 PM 2013

Charter Communications is preparing its official acquisition offer for Time Warner Cable (TWC). According to a recent report from Bloomberg News, the US cable provider aims to buy its larger competitor for below $140 per share, wrote The Verge.

Charter's reported offer is higher than TWC's present $132.60 stock value. However, it still falls below the standards of TWC executives, the report said.

Bloomberg's sources say TWC, the second-largest US cable provider, would "probably" accept an offer in the range of $150 to $160 per share. The sources also said Charter's offer may not be enough to close the deal, the report explained.

Despite earlier rumors that it would join forces with Charter for the TWC bid, Comcast is reportedly staying out of the way for now. However, Bloomberg notes that Comcast is keeping an eye on Charter's moves, the report stated.

Charter believes that the acquisition of TWC would provide additional leverage for future transactions with television networks, The Verge reported.

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