Market Overview

DoJ Approves Charter Acquisition Of Time Warner Cable; Shares Jump Higher

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Shares of Time Warner Cable Inc (NYSE: TWC) and Charter Communications, Inc. (NASDAQ: CHTR) were trading up on Monday, after Reuters reported the U.S. Justice Department approved the latter’s proposed acquisition of the former and of Bright House networks.

Now, there is one final step left: the Federal Communications Commission must approve the transaction. According to Reuters, FCC Chairman Tom Wheeler will pass an order around on Monday, seeking consent from the five-member commission. However, some conditions will be included, the DoJ said.

Related Link: Time Warner Cable-Charter Merger 'Shot Clock' Expires This Week: What's It Mean?

Some of the aforementioned conditions for the deal to go through are 1) Charter cannot impose prices and data limits based on usage and 2) Charter cannot restrain access to streaming video.

Shares of Charter were trading higher by more than 3 percent at $204.82, while Time Warner shares spiked 3.6 percent at $208.76.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted-In: Bright House Networks DOJ FCCM&A News Movers

 

Related Articles (TWC + CHTR)

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