Charter Communications Inc on Monday formally offered to acquire larger rival Time Warner Cable for $37.3 billion, sparking what is likely to be a contentious battle for control of the No. 2 U.S. cable operator.Charter, the No. 4 cable operator, proposed paying $132.50 per share - barely higher than where Time Warner Cable shares closed on Monday - consisting of around $83 per share in cash and its own stock.Monday's offer is the boldest sign yet that cable billionaire and dealmaker John Malone thinks that new managers could do a better job running the company, which has fallen behind by not investing enough in taking on competitors and shifting to digital technology. Malone's Liberty Media Corp owns 27 percent of Charter.Including debt, the deal is worth $62.35 billion. Time Warner Cable shareholders would get 45 percent ownership in the combined company.
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 fell by 1.61% or $-2.2/share to $134.22. In the past year, the shares have traded as low as $76.19 and as high as $144.02. On average, 825975 shares of CHTR exchange hands on a given day and today's volume is recorded at 914783.
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 0.72% or $-0.96/share to $132.40. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2512080 shares of TWC exchange hands on a given day and today's volume is recorded at 3109688.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 1.09% or $-0.72/share to $65.47. In the past year, the shares have traded as low as $48.84 and as high as $70.77. On average, 4284900 shares of TWX exchange hands on a given day and today's volume is recorded at 5632201.
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