Charter, Time Warner Cable and Bright House complete transactionsStaff writer ▼ | May 18, 2016
Charter Communications closed its transactions whereby legacy Charter has combined with Time Warner Cable.
Acquisition $100.00 in cash and shares of common stock
This is equivalent to 0.5409 shares of legacy Charter, for each share of TWC common stock ("Option A" consideration).
Charter also provided an election option for each TWC stockholder to receive $115.00 of cash and Charter shares equivalent to 0.4562 shares of legacy Charter for each share of TWC common stock ("Option B" consideration).
The combination of Charter, TWC and Bright House will create a leading broadband services and technology company, serving over 25 million customers in 41 states.
The completion of the transactions will drive investment into the combined entity's advanced broadband network, resulting in faster broadband speeds, better video products, more affordable phone service and more competition, for consumers and businesses.
Charter's network and product investments combined with its consumer friendly operating strategy will also lead to faster customer and financial growth, enhancing career development opportunities for its employees and driving value for shareholders. ■