Charter details Time Warner Cable takeover plan

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Associated Press

Posted on January 14, 2014 at 2:01 PM

STAMFORD, Conn. (AP) — Charter Communications is offering more details on its plans to bid around $132.50 per share to take over Time Warner Cable.

The cable company says the contemplated offer is 38 percent higher than where its target's stock was trading when it first made a bid in June.

Charter released a presentation online Tuesday with more details on the $38 billion proposal. It says a takeover would create value through joint sales and marketing, cost savings and technology cooperation. Charter will brief investors on the proposal later Tuesday.

Time Warner Cable has called the offer "a non-starter." Charter says its rival's hope for a better deal is "unrealistic."

Market participants believe a better offer is possible. Time Warner Cable Inc. shares are up 3.1 percent at $136.50 in midday trading.

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