Actionable news
0
All posts from Actionable news
Actionable news in TWC: TIME WARNER CABLE Inc,

DoJ Approves Charter Acquisition Of Time Warner Cable; Shares Jump Higher

Trade with confidence. Are you a professional trader? Be the first to get the alert with Benzinga Pro's real-time newsfeed and audio squawk and never miss an opportunity again.
Don't miss the chance to try it FREE today.

Shares of Time Warner Cable Inc TWC and Charter Communications, Inc. CHTR were trading up on Monday, after Reuters reported the U.S. Justice Department approved the latter’s proposed acquisition of the former and of Bright House networks.

Now, there is one final step left: the Federal Communications Commission must approve the transaction. According to Reuters, FCC Chairman Tom Wheeler will pass an order around on Monday, seeking consent from the five-member commission. However, some conditions will be included, the DoJ said.

Related Link: Time Warner Cable-Charter Merger 'Shot Clock' Expires This Week: What's It Mean?

Some of the aforementioned conditions for the deal to go through are 1) Charter cannot impose prices and data limits based on usage and 2) Charter cannot restrain access to streaming video.

Shares of Charter were trading higher by more than 3 percent at $204.82, while Time Warner shares spiked 3.6 percent at $208.76.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.