A number of Time Warner Cable shareholders would support a merger with Charter Communications Inc if Charter raises its current bid for the larger rival to $41 billion or more, according to people close to the matter.Charter on Monday formally offered to purchase Time Warner Cable for $132.50 a share, or $37.3 billion, based on shares outstanding. Time Warner Cable's board swiftly rejected that bid as "grossly inadequate" and said it was open to a sale at $160 per share.Several large shareholders, including at least two of the company's top 10 investors, would back a sale to Charter in the $145 to $150 per share range - or roughly $41 billion to $42 billion - the people said on Wednesday.The shareholders told Charter and Time Warner Cable that they would not accept Charter's current offer, said the people close to the matter, who asked not to be identified because they were not authorized to speak to the media.
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 0.95% or $-1.3/share to $136.04. In the past year, the shares have traded as low as $76.19 and as high as $144.02. On average, 857971 shares of CHTR exchange hands on a given day and today's volume is recorded at 1375568.
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 0.64% or $-0.87/share to $135.13. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2638490 shares of TWC exchange hands on a given day and today's volume is recorded at 3410799.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.29% or $-0.19/share to $65.14. In the past year, the shares have traded as low as $48.84 and as high as $70.77. On average, 4283460 shares of TWX exchange hands on a given day and today's volume is recorded at 7413074.
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