Charter Communications Inc is preparing to send an offer letter to acquire Time Warner Cable Inc as soon as next week, a source close to the matter said on Friday. The offer is expected to be less than $135 per Time Warner Cable share and will be a combination of cash and stock, said the source, who asked not to be named because the matter is not public.Charter declined to comment. Time Warner could not be immediately reached for comment.Bloomberg earlier reported Charter's bid plan.
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 traded higher by 1.43% or $1.89/share to $133.88. In the past year, the shares have traded as low as $68.44 and as high as $144.02. On average, 766339 shares of CHTR exchange hands on a given day and today's volume is recorded at 1159301.
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 fell by 0.42% or $-0.55/share to $130.51. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2454460 shares of TWC exchange hands on a given day and today's volume is recorded at 4198989.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX remained unchanged at $65.82. In the past year, the shares have traded as low as $46.48 and as high as $70.77. On average, 4483960 shares of TWX exchange hands on a given day and today's volume is recorded at 1043385.
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