Comcast confirms $45.2B deal for Time Warner Cable

|About: Comcast Corporation (CMCSA)|By:, SA News Editor

Comcast (CMCSA) has confirmed reports that it has agreed to acquire Time Warner Cable (TWC) for $45.2B, or $158.82 a share.

The transaction will generate $1.5B in savings and will be accretive to Comcast's cash flow, and it will be tax free to Time Warner's shareholders.

The merger will create a cable TV behemoth with 30M subscribers, so it wouldn't be a surprise if it were to face huge, if not insurmountable, regulatory hurdles.

Time Warner's shares are +12% at $151.50 premarket after closing at $135.31 yesterday. Comcast is +1.4%. (PR)