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Time Warner Cable calls Charter offer "grossly inadequate"

  • Not surprisingly, Time Warner Cable (TWC) has unequivocally rejected Charter's (CHTR) $132.50/share buyout offer. The company has also confirmed it told Charter last month it's willing to do a deal at $160/share, albeit with a symmetrical collar for the $60/share equity component (rather than an asymmetrical collar, as had been reported).
  • Time Warner says Charter's offer values it at 7x EBITDA, a multiple it asserts is "well below past transactions in the cable sector."
  • CHTR +1.3% AH. TWC +1.7%.
Comments (1)
  • keentolearn
    , contributor
    Comments (129) | Send Message
     
    Charter Communications, Inc is a $14 Billion Company while Time Warner Cable Inc. somewhere around 39 Billion USD. I wonder how Charter Communications, Inc is going to fund this deal.
    14 Jan, 10:40 AM Reply Like
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