Tag "3"

Charter to Buy Time Warner Cable for About $55 Billion

Charter Communications Inc. plans to buy Time Warner Cable Inc. for about $55 billion, clinching a deal made necessary by slowing growth in the U.S. cable industry — and more expensive by last-minute competition from French billionaire Patrick Drahi. Charter will pay $195.71 a share — 14 percent above Time Warner Cable’s May 22 close — with options of $100 and $115 in cash and the remainder in its own