Charter In Talks With Banks To Arrange Up To $30 Bln In Debt For TWC Deal : WSJ

(RTTNews) - Charter Communications Inc. (CHTR) is in early talks with banks to arrange a debt package of $25 billion to $30 billion, as it pursues a merger with cable operator Time Warner Cable Inc. (TWC), the Wall Street Journal reported citing people familiar with the matter.

The report said that Charter is pursuing a friendly transaction with Time Warner Cable, after its offer last year was rejected and a hostile approach backfired. Charter has a second chance since Comcast abandoned its $45 billion merger with Time Warner Cable last month.

The biggest hurdle of a Charter-Time Warner Cable deal, aside from the regulatory climate, is price.

In January 2014, Charter had proposed a takeover of Time Warner Cable at $132.50 per share in cash and stock. Before the Comcast deal was struck, Time Warner Cable rejected Charter's proposal and said it would only be willing to accept $160 per share, with $100 in cash.