Time Warner Cable Inc. (TWC) today announced that its stockholders have approved its merger with Comcast Corporation with more than 99 percent of votes cast in favor of the deal.
Rob Marcus, Time Warner Cable Chairman and CEO, said, “Today’s Time Warner Cable stockholder approval comes on the heels of Comcast shareholder approval yesterday and is an important milestone as we work towards completing our merger.”
On February 12, 2014, Time Warner Cable agreed to merge with and into a 100 percent owned subsidiary of Comcast. Upon completion of the Comcast merger, all of the outstanding Time Warner Cable shares automatically will be cancelled and will be converted into the right to receive 2.875 shares of Class A common stock of Comcast. Closing of the merger is subject to receipt of regulatory approvals, as well as satisfaction of certain other closing conditions.