4 Merger and Acquisitions Stock Stories Making Monday Moves
Time Warner Cable Inc. (NYSE:TWC):Current price $111.62
On Monday, Time Warner said that it has reached a definitive accord with Duke Energy Corp and investment funds managed by Alinda Capital Partners to acquire DukeNet Communications, LLC for a cash price of $600 million, including the repayment of debt. DukeNet, based in Charlotte, is a regional fiber optic network firm serving customers in North Carolina and South Carolina, together with five other states in the Southeast. Sporting a fiber optic network of more than 8,700 miles, DukeNet supplies data and high-capacity bandwidth services to government, wireless carrier, data center, and enterprise customers. Duke Energy owns 50 percent of DukeNet with The Alinda investment funds owning the remaining 50 percent.