Charter Communications is considering raising its bid for Time Warner Cable (TWC) within the next fortnight, Reuters reports, citing people familiar with the matter. A new price of around USD142.50 per share has been discussed, but no decision has been made, the source added. Charter’s current bid stands at USD132.50 per share, valuing the US giant at USD37.3 billion.
The deal, which was proposed last month, would have given TWC shareholders 45% ownership of the combined company. Charter said that it was forced to go public with its offer because of a lack of interest from Time Warner’s management in its efforts to purchase the firm.