Time Warner Cable shareholders approve Charter deal2015-09-22 16:14 by Daniela
Tags: Time Warner Cable, Charter
Time Warner Cable (TWC), has announced that its stockholders have overwhelmingly approved its merger with Charter Communications, with more than 99 percent of votes cast in favor of the deal.
"Today's approval is an important milestone in our merger with Charter. The merger will maximize value for our stockholders while creating a company dedicated to delivering great customer experiences," Rob Marcus, TWC Chairman and CEO, said.
Charter has announced that its stockholders also approved the transaction. Additionally, Charter's investors sanctioned the company's impending buyout of Bright House – the sixth largest U.S. cable operator – for $10.4 billion.
TWC and Charter entered into an agreement on May 23, 2015, providing for TWC to merge with Charter. The closing of the transaction is subject to regulatory review and other customary conditions.
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