An investigation on behalf of investors of Time Warner Cable Inc (NYSE:TWC) in connection with the proposed takeover was announced and NYSE:TWC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/10/2015 -- An investigation on behalf of investors, who currently hold shares of Time Warner Cable Inc (NYSE:TWC), was announced concerning whether the takeover of Time Warner Cable Inc. by Charter Communications, Inc is unfair to NYSE:TWC stockholders.
Investors who purchased shares of Time Warner Cable Inc (NYSE:TWC) and currently hold any of those NYSE:TWC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Time Warner Cable Inc breached their fiduciary duties owed to NYSE:TWC investors in connection with the proposed acquisition.
On May 26, 2015, Charter Communications, Inc. (together with its subsidiaries "Charter") and Time Warner Cable Inc. (NYSE: TWC) announced that they have entered into an agreement for Charter Communications to merge with Time Warner Cable. Charter Communications will provide $100.00 in cash and shares of a new public parent company ("New Charter") equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. The deal values each Time Warner Cable share at approximately $195.71 based on Charter's market closing price on May 20, or approximately $200 based on Charter's 60-trading day volume weighted average price.
However, given that at least one analyst has set the high target price for NYSE:TWC shares at $222 per share, the investigation concerns whether the offer is unfair to NYSE:TWC stockholders. More specifically, the investigation concerns whether the Time Warner Cable Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On June 8, 2015, NYSE:TWC shares closed at $176.37 per share.
Those who are current investors in Time Warner Cable Inc (NYSE:TWC) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com