Mergers and acquisitions
Charter Communications confirms $55.3 billion merger bid with Time Warner Cable
On Tuesday, Charter Communications confirmed its bid to buy Time Warner Cable for about $55.33 billion in cash and stock. If the deal is approved, Charter would pay about $195 a share, which is about 14 percent more than Time Warner Cable's closing stock price on Friday. If you include debt, the deal is worth about $78.7 billion. The combination of Charter, Time Warner, and Bright House Networks would have 23 million customers in the U.S., second only to Comcast's 27 million. Comcast dropped its bid for Time Warner Cable last month, amid regulatory scrutiny.