Charter, Time Warner move higher AH; TWC reportedly wants $160/share

|About: Charter Communications, Inc. (CHTR)|By:, SA News Editor

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.