Charter Communications has offered to buy Time Warner Cable (TWC) for $61.3 billion, taking its case directly to shareholders because TWC management turned down its previous overtures.
“We haven’t received a serious response,” Charter CEO Tom Rutledge told Bloomberg today. Rutledge complained that TWC rejected its $61 billion bid and made an unrealistically high counter-offer.
Charter released an announcement saying, “Time Warner Cable’s response led Charter to determine there is no genuine intent from Time Warner Cable’s management and Board of Directors to engage in a merger agreement, and that it is prudent to bring the matter to shareholders directly.”
via Ars Technica http://feeds.arstechnica.com/~r/arstechnica/index/~3/E4bJUjJetjg/