FollowCharter Communications shares surged 6% Thursday after a report saying it ts in talks to acquire Bright House Networks.
Bloomberg, citing people with knowledge of the matter, reported the talks have been happening for months and both sides have now agreed to the framework for a potential all stock deal. The report noted Bright House Networks could be valued at more than $12 billion.
According to a report in Reuters a Bright House spokeswoman acknowledged the speculation in a statement, saying “while we have had conversations with many parties about this transaction, we do not have an agreement with anyone regarding future plans for Bright House.”
Recently, shares of Charter were up 6%, or $10.74, to $193.49 on heavy volume of 2.6 million shares. Average daily volume is 899,578 shares.
