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Time Warner Cable Rejects Charter’s Merger Offer

 ( Image source: crainsnewyork.com) 

Apparently, Time Warner Cable Inc (NYSE:TWC) has rejected the merger proposal from Charter Communications, Inc. (NASDAQ:CHTR). Charter offered to buy TWC at $132.50 a share, consisting of cash and stock. The offer price valued TWC at $61.3 billion. TWC’s board rejected the offer on the basis that the price was too low. In addition, the board indicated that it would only be open to a deal with Charter at a price of $160 a share. Clearly the two parties are far apart on price. This merger will never happen.