Charter is “in contact” with Time Warner Cable...
Charter is “in contact” with Time Warner Cable shareholders about its proposed buy of TWC, Charter said in an online presentation Tuesday (http://bit.ly/LPsPg4). The presentation is a response to a posting last week from the TWC board dismissing Charter’s offer…
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as a “low-ball proposal,” Charter said in a press release. Charter’s next step “will be determined by the level of support shareholders demonstrate for this combination at a price that benefits both set of shareholders,” Charter said. The Charter presentation said TWC’s response ignored the substantial stake in the new company that TWC shareholders will receive as part of a Charter buy. “TWC management/Board may look at the Charter proposal as a full exit, but it is not a sale for TWC shareholders,” Charter said.