Time Warner Cable turns down "low-ball offer" from Charter

Time Warner Cable has turned down a bid from Charter Communications worth more than $61 billion, including debt. The deal, which values Time Warner Cable at $132.50 a share, was deemed "a low-ball offer" by CEO Rob Marcus. Charter chose to make the offer public "to make our case to shareholders about why this deal is good for them," Charter CEO Tom Rutledge said.

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