Report: Charter rebuffs $100B-plus Verizon buyout offer; Sirius XM eyed

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

Charter Communications (NASDAQ:CHTR) has rebuffed a buyout offer well over $100B from Verizon (VZ -0.6%) as too low, the New York Post reports.

Three sources told the paper that Verizon -- linked to deal chatter around several companies in recent months -- made a proposal to acquire Charter for $350-$400/share. Charter's down -0.7% to $343.20 currently.

Several analysts have said Verizon needs a transformative acquisition, likely including fiber-optic networks, to make a splash as it pursues 5G wireless plans in a hotly competitive sector.

The sources also said Verizon expressed interest in buying Sirius XM (SIRI +3.8%), but that didn't translate into a bid.

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