CORRECTED-Comcast plans to acquire Time Warner Cable in $45.2 billion deal-sources
(Corrects first paragraph to say all-stock deal, not all-cash deal)
Feb 12 (Reuters) - Comcast, the largest U.S. cable company, plans to acquire No. 2 Time Warner Cable for $158.82 per share in an all-stock deal worth $45.2 billion that is expected to be announced on Thursday, according to two sources familiar with the matter.
Comcast is planning to acquire all of Time Warner Cable's shares in a friendly deal, said the sources, who did not want to be identified because the details of the deal were not yet public. The deal would be subject to regulatory approval and the companies expect the transaction would close by the end of the year, they said.
The sources said the merger would create $1.5 billion in operating synergies, with 50 percent of those synergies expected in the first year. Comcast is planning to divest 3 million of its U.S. subscribers as part of the deal. (Reporting by Liana B. Baker; Editing by Paul Tait)
- Malaysia says no evidence missing plane flew hours after losing contact |
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- Rescuers search site of NY building collapse; seven dead
- White House tried to mediate dispute between Senate, CIA panel: source
- Missing jet may have strayed to west, Malaysia military says |