Deals
Charter to Buy Time Warner for $55 Billion in Second Try
Can Charter, Time Warner Cable Deal Get FCC Approval?
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Charter Communications Inc. plans to buy Time Warner Cable Inc. for about $55 billion, clinching a deal made necessary by slowing growth in the U.S. cable industry -- and more expensive by last-minute competition from French billionaire Patrick Drahi.
Charter will pay $195.71 a share -- 14 percent above Time Warner Cable’s May 22 close -- with options of $100 and $115 in cash and the remainder in its own stock, according to a statement Tuesday. Bright House Networks, a smaller cable company that Charter had previously agreed to buy, will also be merged into the combined entity.