Publicis Groupe’s Kekst and Company unit is working Charter Communications’ aggressive $61B cash/stock bid for Time Warner Cable, which has ridiculed the offer as “grossly inadequate.”
In his Jan. 13 letter to TWC CEO Rob Marcus, Charter chief Tom Rutledge said the corporate marriage would “create maximum, long-term value for shareholders and employees of both companies.”
He noted the deal’s financing “is fully negotiated, and we can be in a position to sign commitment letters in a matter of days.”
Charter made takeover proposals to TWC in June and October. Rutledge and Marcus met in December to discuss Charter’s prior proposals and the challenges facing the cable TV business.
TWC, which is the No. 2 cable company after Comcast, has accused No. 4 Charter of trying to “steal” it.