US firms take lead roles on proposed $45bn cable merger
Four New York heavyweights have secured advisory roles on the proposed $45bn (£27bn) merger between US cable operators Comcast and Time Warner Cable.
February 14, 2014 at 03:48 AM
2 minute read
Four New York heavyweights have secured advisory roles on the proposed $45bn (£27bn) merger between US cable operators Comcast and Time Warner Cable.
Merger terms have been agreed between the two companies but the deal could still be scuppered y regulators, amid concerns that the combined entity would control as much as three quarters of the cable industry in the US.
Paul Weiss Rifkind Wharton & Garrison and Skadden Arps Slate Meagher & Flom won the mandate to advise Time Warner on a deal that could be one of the most valuable M&A transactions of the year.
Comcast turned to Davis Polk & Wardwell, while Willkie Farr & Gallagher is advising on regulatory matters.
The Skadden team is being led by New York M&A partners Stephen Arcano and Ann Beth Stebbins. Corporate chair Robert Schumer led for Paul Weiss, alongside the practice's deputy chair Ariel Deckelbaum and fellow M&A partner Ross Fieldston.
Davis Polk fielded a team led by M&A partners David Caplan and William Chudd.
For Willkie Farr, the firm's Washington-based communications, media and privacy department chair Frank Buono is leading, alongside media partner Jim Casserly.
The same Paul Weiss team acted for Time Warner responding to an unsolicited $61bn (£37bn) merger offer from Charter Communications last month.
On that proposed deal, Charter – a smaller cable company operating in the US – mandated Wachtell Lipton Rosen & Katz and Kirkland & Ellis.
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