“CNBC‘s David Faber this evening tweeted that multiple unnamed sources have indicated to him that Comcast (CMCSA) will announce tomorrow a deal to purchase Time Warner Cable (TWC) for $159 per share, in an all-stock deal,” Tiernan Ray reports for Barron’s.
“With 277.9 million Time Warner Cable shares outstanding, the deal would have a market value of $$44.2 billion,” Ray reports. “With Time Warner Cable stock closing up in today’s session at $135.31, up 41 cents, the deal would offer TWC holders a nearly 18% premium.”
Comcast to buy Time Warner Cable in all stock deal worth $159 per $TWC share- sources. Deal set for tomorrow morning. Ratio is 2.875 $CMCSA.
— David Faber (@davidfaber) February 13, 2014
Comcast will indicate willingness to divest 3m subs from combination with $TWC– sources.
— David Faber (@davidfaber) February 13, 2014
Comcast deal for $TWC does not face ownership cap restrictions, but sure to get tough review from FCC.$CMCSA wants to avoid consent decree.
— David Faber (@davidfaber) February 13, 2014
Full article here.
MacDailyNews Take: Back to the drawing board, Eddy!
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