Charter Preparing a Bid for Time Warner Cable (Report)
Charter Communications is putting the final touches on a bid for Time Warner Cable, several outlets reported on Friday.
An official bid of less than $135 a share could come as early as next week, according to Reuters, though TWC is likely to reject any offer less than $150 a share, perhaps even more.
On Thursday, shares of TWC closed at $131.41, giving the company a market capitalization of $37 billion.
Wall Street values Charter, though, at a more modest $13.8 billion, so the company has been negotiating for financing from Bank of America, Deutsche Bank and Goldman Sachs.
Charter might also get some help from billionaire John Malone's Liberty Media, which owns 27 percent of Charter.
Charter declined to comment.
Separately, Comcast has reportedly engaged JPMorgan Chase & Co. to advise it on a possible bid for TWC, and Cox Communications is said to be interested in acquiring TWC.