Seeking Alpha

Shareholder sues to stop Time Warner Cable sale

  • Time Warner Cable (TWC) shareholder Breffni Barrett has sued to block the company's $45.2B sale to Comcast (CMCSA), saying the price is unfair and anyway faces high regulatory obstacles.
  • Barrett wants to sue on behalf of Time Warner's shareholders.
  • "It has been reported that Time Warner failed to engage in good faith negotiations," Barrett said. The sales process was "woefully deficient," Barrett's lawyers said, while Comcast's offer doesn't take into account Time Warner's "positive momentum going forward."
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