It’s no secret that Charter has wanted to acquire Time Warner Cable for quite some time now. It went in with an offer for the company back in 2014 but it was rejected and Comcast come in with a much better competing offer. However Comcast’s plans to acquire Time Warner Cable didn’t go through because regulators were not in favor of it. This has given Charter another chance and if reports are to be believed, it’s making full use of it.

Bloomberg reports that Charter Communications is close to inking the deal with Time Warner Cable which will cost about $55.1 billion in cash and stock. Charter will be paying about $195 per share with $100 in cash and rest in its own stock.

According to the report both companies are likely going to announce this deal tomorrow. It’s also said that Bright House Networks, a smaller cable company that Charter is also looking to acquire, will be merged into the combined entity if these acquisitions go through.

The price that Charter is willing to pay is 14 percent above TWC’s closing price on May 22nd. Shareholders will have the option to accept as much as $115 in cash and the remaining in Charter stock.

So far both Charter and Time Warner Cable have not yet commented on this report.

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