Time Warner Cable's (NYSE:TWC) stockholders have approved its merger with Comcast (NASDAQ:CMCSA) with more than 99% of votes cast in favor of the deal.
On Feb. 12, TWC agreed to merge with and into a 100% owned subsidiary of Comcast. Upon completion of the proposed 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.
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