Comcast to buy Time Warner Cable
February 13, 2014 06.46 Europe/London By Robert Briel
ComcastComcast is set to buy Time Warner Cable (TWC) with an all-stock swap creating the US’s biggest cable operator.
The deal is worth $159 per share, or about $45.2 billion, not including debt, significally higher than Charter Communications’ bid for TWC, at $132.50 per share.
According to reports, the companies hope to close the deal in the second half of the year, but the agreement will be subject to regulatory scrutiny by the FCC and the US Justice Department.
A merger between Comcast and Time Warner is expected to create $1.5 billion in operating savings, 50% of which would be in the first year.