(Corrects first paragraph to say all-stock deal, not all-cash
Feb 12 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)