Comcast Shareholders Approve Time Warner Cable Deal
The cable giant held a shareholder meeting in Philly on Wednesday
Comcast shareholders on Wednesday approved the planned $45 billion acquisition of Time Warner Cable.
The cable giant, led by chairman and CEO Brian Roberts, held a special shareholder meeting on the deal in Philadelphia, where its headquarters is located, on Wednesday. Afterward, it issued a statement saying that more than 99 percent of Comcast shareholders voting supported Comcast's proposal to issue stock in the proposed TW Cable deal.
Roberts has said he was "cautiously optimistic" that regulators would allow the acquisition of the second-largest U.S. cable operator by the largest cable company.
TW Cable shareholders will vote on the deal at a meeting in New York on Thursday. Comcast on Wednesday said that subject to TW Cable shareholder approval and regulatory approvals, the deal is expected to close in early 2015.