Charter Communications rejected a buyout offer from Verizon Communications Inc. that valued the cable TV and broadband company at well over $100 billion.
Stamford, Connecticut-based Charter rejected the offer, valued at between $350 and $400 a share, as too low, and because the company — and Denver media tycoon John Malone, a Charter board member — weren't ready to sell, sources told the New York Post.
Verizon also has recently expressed interest in Sirius SM Holdings, sources told the Post.
Sources told the Post that Malone, chairman and founder of Douglas County-based Liberty Broadband Corp., the largest shareholder in Charter, wants to give the cable company time to complete its integration of Time Warner Cable. Charter (Nasdaq: CHTR) acquired Time Warner Cable last year for $78.7 billion.
Read more at the Denver Business Journal: http://bit.ly/2rWG6MX
(© 2017 American City Business Journals. All rights reserved.)