updated 10:25 pm EST, Wed February 12, 2014
Deal offers $159 per share for buyout
Reports of a finalized deal between Time Warner Cable and Comcast have begun to circulate. According to CNBC reporter David Faber, Comcast will be offering $159 per share to purchase Time Warner Cable. Any deal would be subject to Federal Communications scrutiny, and would likely take over a year to finalize.
If accurate, the single-party purchase scuttles reports of splitting the cable provider between Comcast and Charter. At the close of business, Time Warner Cable stock closed at $134.90, but is now over $135 on news of the potential deal. Charter's deal offered $132.50 a share, with Time Warner Cable asking for $160 in a counter-offer.