Time Warner Cable’s Suitors Lining Up Funds for Bid
November 24, 2013
Apparently, Charter Communications is nearing an agreement with banks to borrow money for a bid for Time Warner Cable -- a sign that the scrappy cable operator’s effort to engineer a combination of the two companies may be moving into high gear.
Charter has held talks with Bank of America, Barclays PLC and Deutsche Bank AG about a multi-billion dollar debt package that would underpin an offer for Time Warner Cable, which has a market capitalization of nearly $35 billion. Another possible source of cash for a bid: Sovereign wealth funds and wealthy individuals. Arranging equity commitments from such parties could allow Charter to increase the cash component of the deal without taking on too much debt.
(Nov 22)
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