Charter Communications Inc. has been courting TWC for months and in January made a cash and stock bid worth $132.50 for each TWC share in January, which was rejected.
And just days ago, Charter even unveiled how it would reshape the TWC board if it was eventually successful in its takeover bid. (See Charter Seeks to Replace TWC Board .)
Now, Comcast Corp. (Nasdaq: CMCSA, CMCSK) has stepped up with an all-stock bid that values each TWC share at $158.82, an offer that has been accepted.
The consensus appears to be that Charter would not have the financial muscle to make a better offer.
Comcast seems confident its deal wouldn't fall foul of anti-competition rules as its service areas don't overlap with those of TWC. Such a deal would, though, leave Comcast way ahead of the field as the number one player in the US cable services market, and leave Charter wondering what to do next.
Expect to hear more about this game-changing M&A move during Thursday.
— Ray Le Maistre, Editor-in-Chief, Light Reading