Comcast, the largest U.S. cable company, plans to acquire No. 2 Time Warner Cable for $158.82 per share in an all-cash deal worth $45.2 billion that is expected to be announced on Thursday, according to two sources familiar with the matter. Comcast is planning to acquire all of Time Warner Cable's shares in a friendly deal, said the sources, who did not want to be identified because the details of the deal were not yet public. The deal would be subject to regulatory approval and the companies expect the transaction would close by the end of the year, they said.
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 traded higher by 0.3% or $0.41/share to $135.31. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2886510 shares of TWC exchange hands on a given day and today's volume is recorded at 2145120.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.34% or $0.22/share to $65.06. In the past year, the shares have traded as low as $51.62 and as high as $70.77. On average, 5070630 shares of TWX exchange hands on a given day and today's volume is recorded at 4543452.
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