Comcast will buy Time Warner Cable for $44.2B tomorrow (reports)
Top U.S. cable company Comcast will announce tomorrow its plan to acquire the next-largest cable company in the country, according to multiple reports.
CNBC’s David Faber put the deal size at $159 per share, or $44.2 billion, in a tweet tonight. Faber did not name his sources.
That would be close to the $160 per share figure that Rob Marcus, Time Warner Cable’s president, was hoping for.
Time Warner Cable stock closed at $135.31 per share today, and the deal would give stockholders 18 percent more than that, as Barron’s pointed out.
The New York Times’ Brian Stelter wrote in a tweet that the acquisition would go down for $158.82 per share.
It’s unclear if a Comcast-Time Warner Cable deal would receive regulatory approval. The Federal Communications Commission (FCC) might not be so hot on a deal that would bring together such big public-facing service providers.