Why Shares of Charter Communications Inc. Popped 16% in July
Shares of cable company Charter Communications Inc. (NASDAQ: CHTR) jumped 16.4% in July, according to data provided by S&P Global Market Intelligence, as it became a hot commodity in merger talks.
Sprint (NYSE: S) is in hot pursuit of Charter Communications, hoping to convince the cable and broadband company to merge with it. Charter has so far rebuffed the idea of buying out the wireless company, but Sprint's controlling shareholder, Softbank CEO Masayoshi Son, is an aggressive acquirer, and may be willing to put a massive bid in for Charter.
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Source: Fool.com
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