- Following weeks of reports and speculation, Charter (CHTR) has offered to buy Time Warner Cable (TWC) for $132.50/share, or $61B after factoring debt. Charter is offering $83/share in cash and $49.50/share in stock.
- Charter has sent a letter to TWC CEO Rob Marcus outlining its offer.
- The offer price, which might just amount to an opening gambit, represents only a $0.10/share premium to TWC's Monday close. But shares have already rallied on expectations of a deal.
- Update (4:30PM): Charter is now up 1.7% AH. Time Warner Cable is up 0.8%.