Charter Communications continued its war of words with Time Warner Cable regarding its unsolicited $61.3 billion bid for the company, warning the cable giant’s shareholders that the longer they wait to accept a deal, the less valuable their holdings become.
“The goal should be to complete a merger agreement now, which creates value for the shareholders of both companies relative to the status quo,” Charter wrote. The company added that with a loss of 813,000 basic video customers in 2013, “TWC’s value to Charter is declining, driven by continued customer relationship and triple play subscriber losses and financing costs from further delays.”
Charter officially launched a $132.50 per share offer for TWC on Jan. 13, which the second larges cable operator in the country deemed “grossly inadequate,” and countered with a $160 valuation that it believed was a fair price. On Jan. 14, Charter held a conference call with analysts where it criticized TWC’s leadership for mismanaging the company and on Jan. 15 released a Power Point presentation that mapped out its strategy for the company.Time Warner Cable responded with its own presentation on Jan. 15.
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