Time Warner Cable (TWC) shareholders voted overwhelmingly on Thursday to approve the merger with Comcast. More than 99 percent of voters in attendance gave the deal a thumbs-up.
A day prior, on the other end of the deal, more than 99 percent Comcast stockholders voted to move forward with the merger.
Rob Marcus, TWC chairman and CEO, said in a press release: “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 Feb. 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 TWC shares automatically will be canceled and converted into the right to receive 2.875 shares of Class A
The finalization of the merger is subject to receipt of regulatory approvals, as well as satisfaction of certain other closing conditions.