Charter Pushing Time Warner Cable Shareholders to Reject Deal
While they weren't willing to match Comcast's per share offer to acquired Time Warner Cable, Charter Communications continues to keep hope alive that they'll still be able to acquire the company themselves, however likely that is. Charter has yet to pull their nominations for the Time Warner Cable board
, made a few months back when the company was laying the groundwork for a more hostile takeover. Charter also appears to be keeping the pressure on Time Warner Cable shareholders
"Charter urges TWC stockholders to reject the proposed Comcast merger and demand that the TWC board engage in a full review of its strategic opportunities," the company, in which John Malone's Liberty Media owns a 27 percent stake, said in a regulatory filing...Charter in its Friday filing cited the following reasons for shareholders to reject the Comcast deal: "higher regulatory risk," higher risk of delay and a "flawed" process of negotiating the deal "because of the failure of the TWC board of directors to consider and investigate alternatives."
Should the Comcast offer be rejected by regulators, Charter might consider raising their previous offers.