Charter Communications Inc took its first step in its pursuit of Time Warner Cable Inc on Tuesday, preparing for a proxy fight by announcing a slate of 13 nominees to the larger cable operator's board.The nominations are Charter's latest move to try to acquire Time Warner Cable after its offer of $132.50 per share was rejected for being too low in mid-January. Charter has been considering whether to raise its offer to the low $140s, Reuters has previously reported, but did not make any mention of a higher offer on Tuesday.The nominees include Bruno Claude, a former president and CEO of Swiss cable company's Cablecom, Lisa Gersh, former president and CEO of Martha Stewart Living Omnimedia Inc ; Marwan Fawaz, a former Motorola Mobility executive and Eamonn O'Hare, a former chief financial officer at Virgin Media."Now is the time for the current Board and management of Time Warner Cable to respond to their shareholders and work with us to complete a merger to the benefit of shareholders while minimizing their execution and market risks," said Charter CEO Tom Rutledge in a statement.
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 0.86% or $1.19/share to $138.81. In the past year, the shares have traded as low as $76.19 and as high as $144.02. On average, 1129770 shares of CHTR exchange hands on a given day and today's volume is recorded at 206016.
Martha Stewart Living Omnimedia, Inc. (MSO) is an integrated media and merchandising company providing consumers with lifestyle content and products. Shares of MSO traded higher by 0.73% or $0.03/share to $4.14. In the past year, the shares have traded as low as $2.20 and as high as $4.70. On average, 366261 shares of MSO exchange hands on a given day and today's volume is recorded at 83012.
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 0.01% or $-0.01/share to $135.69. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2856880 shares of TWC exchange hands on a given day and today's volume is recorded at 436546.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.08% or $0.69/share to $64.34. In the past year, the shares have traded as low as $51.62 and as high as $70.77. On average, 4977370 shares of TWX exchange hands on a given day and today's volume is recorded at 890774.
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