Time Warner Cable CEO Rob Marcus knocked Charter Communications attempts to take control of the cable company Thursday, telling analysts that its offer of $132.50 per share “substantially undervalues our company.”
“The value offered by Charter falls well short of the value we can create,” Marcus said, shortly after Time Warner Cable reported stronger-than-expected quarterly earnings results. “We are confidant in our ability to drive growth.”
The company did not just rely on rhetoric to build support for remaining independent — it raised its quarterly dividend by 15 percent to 75 cents a share.
Marcus said the company has invested heavily in innovation and declared that “Time Warner Cable is better positioned than Charter.”
The Time Warner Cable chief said that in the future the company was committed to improving its navigation, internet speeds and customer service.
If Charter is successful in its efforts to wrest control of Time Warner, it has agreed in principle to sell parts of its New York, North Carolina and New England holdings to Comcast, according to Reuters.