Comcast and Time Warner Cable confirmed Thursday that they will enter into a $45.2 billion deal to combine the nation’s two largest cable companies, a mammoth proposal that will trigger close scrutiny from federal regulators.
Swooping in to top a competing bid by Charter Communications, Comcast will pay 2.875 of its shares to TWC shareholders. The companies’ respective board of directors have approved the all-stock agreement, which will see all of TWC’s 284.9 million shares acquired at a value of about $158.82 per share. Current TWC shareholders will own about 23% of Comcast’s common stock.
For more on this story visit: Roger Yu and Kim Hjelmgaard, USA Today