March 28 Time Warner Cable Inc said on
Friday it was committed to a deal reached with larger cable
operator Comcast Corp in response to calls by Charter
Communications that shareholders reject the $45 billion
Charter, which was rebuffed in its bid for Time Warner
Cable, said in a statement filed with the U.S. Securities and
Exchange Commission that the planned merger of Time Warner Cable
and Comcast posed a high degree of regulatory risk and warned
that approval could drag on until the first quarter of 2015.
TWC and Comcast announced their all-stock agreement on Feb.
13, which at the time gave the deal a value of $158.82 per
share. Charter argued in the filing that, due to Comcast's
declining share price, the value was now worth $141.16 a share.
It called the merger process flawed as "the TWC board
specifically demanded of Charter $160 per share, and publicly
stated that they would not take a penny less than $160 and that
the collar was a critical element."
In a response to the filing, TWC said: "We are fully
committed to our merger with Comcast, which we believe is in the
best interests of shareholders."
(Reporting By Nicola Leske; Editing by Jonathan Oatis)