Charter Communications Inc. is close to sign an agreement to buy Time Warner Cable for about $55 billion, combining the second and third largest U.S. cable operators, according to reports from news agencies.
The cash and stock deal values Time Warner Cable at $195 per share, Reuters reports. The deal comes one month after Comcast dropped its $45.2 billion merger agreement with Time Warner Cable over antitrust concerns.
In 2013, Charter had again tried to buy Time Warner Cable, but its unsolicited approach was rejected.
The deal is expected to be announced on Tuesday.
Bloomberg and the Wall Street Journal first reported on the deal earlier today.