Join The Discussion

 

Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

read more >

Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

read more >

Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

read more >

Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

read more >

Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

read more >

Charter makes formal offer for Time Warner Cable

 

Melanie Hicken


NEW YORK (CNNMoney) -- After months of overtures, Time Warner Cable has formally received a merger offer from one of its main rivals.

Charter Communications on Monday said it sent a letter formalizing a previous discussion to offer around $130 a share, including approximately $83 per share in cash, to merge with Time Warner Cable.

The bid for Time Warner Cable, the country's second largest cable company with more than 11 million subscribers, was first reported by Bloomberg.

Time Warner Cable could not be immediately reached for comment.

Charter, the fourth largest cable provider with just over 4 million subscribers, said it has made repeated overtures for more than six months, but that "Time Warner Cable chose not to engage or find out more."

That changed in December, when executives from both firms met to discuss Charter's plan. But after the meeting, Time Warner Cable returned with "an unrealistic price expectation," Charter said Monday.

Sources said in November that Time Warner Cable had reached out to Comcast for a possible deal.

Charter now says it is going to the company's shareholders directly with its offer.

"We believe that time is of the essence to prepare our companies to meet the challenges of the industry, which is why we have decided to announce the status of our discussions to date with both sets of shareholders," Charter President and Chief Executive Officer Thomas Rutledge wrote in the letter.

Shares of both Charter and Time Warner Cable shares rose slightly in after-hours trading after news of the proposed deal broke. Charter shares are up more than 70% from a year ago, while Time Warner Cable shares are up by more than 30%.

 

< back

Email   email
hide
Ebola
How worried are you about Ebola spreading?