On Tuesday, Shares of Time Warner Cable Inc. (NYSE:TWC), gained 7.26% to $183.60, hitting its highest value.
Charter Communications, Inc. and Time Warner Cable Inc., declared that they have reached a definitive agreement for Charter to merge with Time Warner Cable. The deal values Time Warner Cable at $78.7 billion. Charter will provide $100.00 in cash and shares of a new public parent company equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. The deal values each Time Warner Cable share at about $195.71 based on Charter’s market closing price on May 20, or about $200 based on Charter’s 60-trading day volume weighted average price. In addition, Charter will provide an election option for each Time Warner Cable stockholder, other than Liberty Broadband Corporation or Liberty Interactive Corporation, who will receive all stock, to receive $115.00 of cash and New Charter shares equivalent to 0.4562 shares of CHTR for each Time Warner Cable share they own.
Charter also declared that Liberty Broadband Corporation (“Liberty Broadband”) has agreed to purchase, upon closing of the Time Warner Cable transaction, $4.3 billion of newly issued shares of New Charter at a price equivalent to $176.95 per Charter share, which represents Charter’s closing price as of May 20, 2015. As formerly-declared, Liberty Broadband will also purchase, upon closing of the Charter-Advance/Newhouse transaction, $700 million of newly issued Charter shares at a price equivalent to $173.00 per Charter share.
Shares of Charter Communications, Inc. (NASDAQ:CHTR), gained 2.54% to $179.78, during its last trading session.
Charter Communications, Inc., through its auxiliaries, provides entertainment, information, and communications solutions to residential and commercial customers in the United States. The company offers cable video programming services, counting basic and digital video, premium channels, on-demand, pay-per-view, high definition television, and digital video recorder services, in addition to Charter TV App, which enables video customers to search and discover content on various devices, counting the iPhone, iPad, iPod Touch, and Android based tablets.
Time Warner Cable Inc., together with its auxiliaries, provides video, high-speed data, and voice services in the United States. It operates in three segments: Residential Services, Business Services, and Other Operations.
At the end of Tuesday’s trade, Shares of National Bank of Greece S.A. (NYSE:NBG), lost -8.09% to $1.25. 9,957,067 shares changed hands as compared to its average volume of 9,907,870 shares, yesterday.
Financial stocks were declining Tuesday with the NYSE Financial Sector Index dropping 1.2% and the S&P Financial 100 Index falling 0.9%.
National Bank of Greece S.A., together with its auxiliaries, provides diversified financial services. The company is involved in retail and commercial banking, asset administration, investment banking, brokerage, and insurance activities.
Finally, Xerox Corporation (NYSE:XRX), ended its last trade with -2.01% loss, and closed at $11.21.
Xerox Corporation, will enhance its emulsion aggregation (EA) toner capacity by 40 percent with the completion recently of a nearly $35 million expansion project to assist Xerox keep pace with growing EA toner product demand.
The expansion has raised the plant size from 100,000 square-feet to 155,000 square-feet, and added about $26 million in EA toner manufacturing equipment. Xerox and local officials took part in the official opening recently.
Developed by Xerox and protected by more than 300 patents, EA toner produces sharper images using less toner per page. Unlike traditional toner, which is created by physically grinding composite polymeric materials to micron-sized particles, EA toner is chemically grown enabling the size, shape and structure of the particles to be precisely controlled. This leads to improved print quality, less toner usage, less toner waste and less energy required for manufacturing and for printing. Xerox and Fuji Xerox have designed around 50 office and production printing products that use EA toner.
According to InfoTrends, between 2013 and 2018 production digital color toner-based pages will grow at a 6.2% compound annual growth rate, amounting to 295 billion pages globally by 2018, which presents a sizeable opportunity for the chemically grown toners used in Xerox production devices.
Xerox Corporation provides business process and document administration solutions worldwide. The company’s Services segment offers various business process outsourcing services, such as customer care, transaction processing, human resources, communication and marketing, and consulting and analytics services, in addition to finance, accounting, and procurement services.
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