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Charter Attempting Merger With Time Warner

Jan. 14, 2014 11:41 AM ETCHTR
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Seeking Alpha Analyst Since 2013

Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.

Originally published at www.seclive.com

Charter Communications, Inc. (CHTR), frustrated with the lack of response from Time Warner Cable Inc. (TWC) regarding a possible merger, has now gone public with the proposition in an effort to garner support from Time Warner shareholders. Charter is proposing a merger valued at $61B, valuing Time Warner stock at $132.50 per share, a small premium over yesterday's price. Time Warner's stock has already risen 2.5% in response to the public announcement, but Time Warner believes Charter is severely undervaluing the company. Time Warner CEO Rob Marcus commented that the proposal is not close to being considered, and countered to Charter a share price of $160.00 per share. Charter's appeal to Time Warner has been received poorly by Time Warner executives, but analysts' speculations regarding shareholder opinion remain mixed.

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