April 30 Charter Communications, which
lost out to Comcast Corp in a bid to acquire Time
Warner Cable Inc, has withdrawn its slate of nominees to
Time Warner Cable's board.
As part of a deal with Comcast announced on Monday to swap
customers, Charter had withdrawn its slate a Charter spokesman
said on Wednesday.
Charter had said in February that it was nominating a slate
of 13 candidates for election to Time Warner Cable's board as
part of its push to take over the larger company for $38
billion, shortly before Comcast swooped in with a winning offer
of $45 billion.
Time Warner Cable said in a filing to the Securities and
Exchange Commission on Tuesday that Charter had withdrawn the
slate April 25.
It also said in the filing that it had scheduled its annual
shareholder meeting for June 5 in New York.
However, Time Warner Cable said shareholders will not be
asked to vote on the merger with Comcast at that time. The deal
is subject to regulatory approval.
The company plans to set a special meeting for a vote on the
transaction later in 2014.
(Reporting By Nicola Leske; Editing by Chris Reese)