Benzinga's Weekend M&A Chatter
The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday November 1 through November 3, 2013:
Report Charter Communication Weighing Bid for Time Warner Cable
Shares of Time Warner Cable (NYSE: TWC) rose almost 3% Friday on a report from Reuters that Charter Communications was considering a bid for its much larger competitor, according to sources. Liberty Media (NASDAQ: LMCA) owns approximately 25% of Charter.
Both Charter and Time Warner Cable declined comment on the rumor.
Time Warner Cable closed Friday at $123.51.
Fairfax Reportedly Lacks Financing to Complete BlackBerry Deal, Qualcomm May Join Cerberus Bid
Bloomberg reported Saturday that Qualcomm (NASDAQ: QCOM) might join Cerberus Capital Management in a bid for troubled phone maker BlackBerry, according to sources. Cerberus is reportedly in talks with BlackBerry founders Mike Lazaridis and Doug Fregin about a potential deal.
Meanwhile, Fairfax Financial Holdings, which bid $9.00 per share or $4.7 billion for BlackBerry is having trouble setting up financing for their bid, according to sources.
A spokesperson for AT&T declined comment on the report. A Vodafone spokesperson was not available.
BlackBerry closed Friday at $7.77, a loss of 2%.
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