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.The 13 nominees, which would be a full slate to replace the entire Time Warner Cable board, may be presented later on Monday, the source said.This would be 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.Time Warner Cable's chief executive, Rob Marcus, has said the company is only interested in an offer above $160 per share or in a deal that drives more shareholder value than the company can create on its own.
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 0.06% or $0.08/share to $137.58. 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 1235641.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.44% or $-0.28/share to $63.63. 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 5132649.
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