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Time Warner Cable to acquire DukeNet Communications

By Warren Paige

Time Warner Cable Inc. (NYSE: TWC) announced on Monday that it has agreed to acquire DukeNet Communications in an all-cash deal estimated at $600 million. The deal also assumes repayments of debt. The acquisition will help Time Warner Cable to expand its internet service business for its institutional customers. Charlotte based DukeNet, is currently owned by Duke Energy (50% stake) while the remaining stake is held by Alinda Capital Partners, an investment firm, which focuses in infrastructure projects. DukeNet provides high-capacity bandwidth services to data centers, wireless carriers, and other businesses and government organizations in North Carolina and South Carolina along with five other states, located in the Southeast.

October 7th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.