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
TWC and Comcast announced their all-stock agreement on February
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)
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