Comcast will pay about $159 a share in a deal that would combine the nation’s two biggest cable companies, according to a person familiar with the matter, USA Today Money said in a Wednesday evening story.
The all-stock deal – valued at about $45 billion, represents an 18 percent premium from TWC’s market capitalization based on its Wednesday closing price of $135.31 (+0.41).
Comcast closed at $55.24 (+0.24) on Wednesday.
Time Warner Cable has been hotly pursued by another cable company, Charter Communications, but TWC rebuffed three offers, deeming Charter’s valuation, “grossly inadequate.”
In January, Charter offered to acquire Time Warner Cable for $132.50 a share, valuing the company at $37.3 billion. On Tuesday, Charter put pressure on TWC to accept the offer by announcing a slate of 13 to TWC’s board on Tuesday.
Check back later for more details.