Charter Communications is planning to announce 13 nominees to Time Warner Cable Inc's board as soon as Tuesday, 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 on Tuesday, the source said. It was not immediately clear why Charter moved its announcement of a slate to Tuesday from late Monday.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 0.09% or $0.12/share to $137.62. 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 1698959.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.41% or $-0.26/share to $63.65. 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 6122040.
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