- Charter (CHTR) is up 2.1% AH, and Time Warner Cable (TWC) is up 1.8% (to $134.75), following news the former has offered $132.50/share to acquire the latter.
- David Faber reports Time Warner told Charter in December it would sell for $160/share - $100/share + $60/share in stock, with the stock component having an asymmetrical collar (the bid value doesn't change if Charter's shares fall, but it does if they rise).
- Investors seem to be betting a higher bid will be made, but not one close to Time Warner's reported asking price.
Charter, Time Warner move higher AH; TWC reportedly wants $160/share
Jan 13 2014, 18:01 ET