Charter Communications Inc is nearing an agreement with banks to raise funds for a bid for Time Warner Cable Inc, the Wall Street Journal reported, citing people familiar with the situation. Charter has held talks with banks including Bank of America Bank of America Corp, Barclays PLC and Deutsche Bank AG regarding a multi-billion-dollar debt package that would underpin an offer for Time Warner Cable, the newspaper reported. ()Charter could also receive cash from sovereign wealth funds and wealthy individuals for the bid, the Journal said.Charter Communications and Time Warner were not immediately available for comment. Representatives for Bank of America, Deutsche Bank and Barclays could not be immediately reached for comment.It isn't immediately clear which banks might participate in the potential debt package or how much Charter would get from lenders, the Journal said.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 2.97% or $0.45/share to $15.59. In the past year, the shares have traded as low as $9.38 and as high as $15.60. On average, 90844400 shares of BAC exchange hands on a given day and today's volume is recorded at 142053632.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 3.01% or $0.49/share to $16.77. In the past year, the shares have traded as low as $13.96 and as high as $18.99. On average, 2331290 shares of BCS exchange hands on a given day and today's volume is recorded at 2638180.
Charter Communications, Inc. (Charter) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. Shares of CHTR remained unchanged at $126.96. In the past year, the shares have traded as low as $68.44 and as high as $144.02. On average, 619554 shares of CHTR exchange hands on a given day and today's volume is recorded at 645463.
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Shares of DB traded higher by 0.73% or $0.33/share to $45.50. In the past year, the shares have traded as low as $38.18 and as high as $53.12. On average, 919777 shares of DB exchange hands on a given day and today's volume is recorded at 614252.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 0.67% or $0.81/share to $120.86. In the past year, the shares have traded as low as $84.57 and as high as $128.17. On average, 1816560 shares of TWC exchange hands on a given day and today's volume is recorded at 1949153.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.87% or $1.23/share to $66.95. In the past year, the shares have traded as low as $45.18 and as high as $70.77. On average, 4170750 shares of TWX exchange hands on a given day and today's volume is recorded at 4616745.
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