Charter Communications is planning to announce 13 nominees to Time Warner Cable Inc's board as soon as Monday, setting the stage for a proxy fight with the larger cable operator, according to a person familiar with the matter. A full slate to replace the entire Time Warner Cable board may be presented later on Monday, the source said.A Charter spokesman declined to comment, while a Time Warner Cable spokeswoman could not to be reached.It was not yet clear whether Charter would raise its bid for Time Warner Cable when it announces the slate. Charter has been considering whether to raise its offer to the low $140s before or after it nominates a slate.Time Warner Cable rejected Charter's offer of $132.50 per share in mid-January.
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 0.25% or $0.34/share to $137.84. In the past year, the shares have traded as low as $76.19 and as high as $144.02. On average, 1117420 shares of CHTR exchange hands on a given day and today's volume is recorded at 679564.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.47% or $-0.3/share to $63.61. In the past year, the shares have traded as low as $51.62 and as high as $70.77. On average, 4999110 shares of TWX exchange hands on a given day and today's volume is recorded at 2726963.
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