Charter lines up banks for financing Time Warner Cable purchase bid

By Sara Rosenberg

New York, Jan. 13 - Charter Communications has fully negotiated financing for its acquisition bid for Time Warner Cable and believes that it can be in a position to sign commitment letters in a matter of days, according to a news release.

Goldman Sachs, Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank Securities Inc. would lead the financing.

Charter has been proposing a merger with Time Warner for months, with no success, and is now taking the matter to shareholders directly.

Charter said in the release that it is willing to offer a purchase price in the "low $130s, including a cash component of approximately $83."

Charter is a Stamford, Conn.-based broadband communications company and cable operator. Time Warner is a New York-based cable, internet and phone company.

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