This morning, Comcast (NASDAQ:CMCSA) said that it had agreed to acquire Time Warner Cable (NYSE:TWC) in an all-stock deal valued at $45.2 billion. Time Warner Cable shareholders will receive 2.875 shares of Comcast for each share of Time Warner Cable they own and will ultimately own approximately 23% of the combined company. The deal values Time Warner Cable shares at about $158.82, a 17% premium over yesterday's closing price and well above the previous bid from Charter Communications. While the boards of both companies have approved the deal, it still requires regulatory approval. Shares of Time Warner Cable were higher by about 8.5% on the news, while shares of Comcast were lower by about 2.2% this morning.
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