Ron Burgundy Posted May 26, 2015 Share Posted May 26, 2015 (Reuters) - Charter Communications Inc said it would buy Time Warner Cable Inc in a deal valued at $78.7 billion, as the second and third largest U.S. cable operators look to better compete with market leader Comcast Corp. The equity portion of the deal is $55.76 billion based on Time Warner Cable's diluted shares outstanding as of March 31. The offer values each Time Warner Cable share at about $195.71 based on Charter's closing price on May 20, the companies said in a statement on Tuesday. Time Warner Cable's shares rose 11.6 percent to $190.50 in premarket trading, while Charter's stock was up 3.2 percent at $181. View the full article Quote Link to comment Share on other sites More sharing options...
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