Charter Communications on Tuesday announced a deal to acquire and merge with Time Warner Cable, and also reaffirmed its commitment to buy Bright House Networks. The $56 billion cash-and-stock acquisition, if regulators give it a nod, will result in a merger of Charter Communications and TWC under a new parent company called “New Charter.” The deal values TWC at $78.7 billion, or $195.71 per share. TWC shareholders will be offered a cash election option, with which they can convert their shares into a combination of New Charter stock and cash.
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