Deals
TW Telecom Seen Luring Offer From Time Warner Cable: Real M&A
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Potential acquirers who agree with Corvex Management LP that TW Telecom Inc. is an attractive takeover candidate would have to pay one of the industry’s highest valuations to get a deal done.
TW Telecom rallied 5.8 percent to an 11-year high on May 8 after Corvex, an investment firm that bought an almost 6 percent stake, said Level 3 Communications Inc. would be a logical suitor for the phone and Internet services provider. D.A. Davidson Co. said Time Warner Cable Inc. and Comcast Corp. could make more sense as buyers of TW Telecom, while shareholder Thrivent Financial for Lutherans said the company would fill a hole for telecommunications provider CenturyLink Inc.