Good news for Time Warner Cable shareholders — it looks like you’re about to get a better deal than the one Comcast was offering. Bloomberg reports that Charter is very close to announcing a deal to purchase Time Warner Cable for roughly $55 billion ($195 per share), a significant premium over the $45 billion deal that Comcast proposed to buy TWC last year. At the close of trading last week, TWC had a market cap of $48.5 billion.

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Although the federal government shot down the proposed Comcast-TWC merger earlier this year, a merger with Charter should be less of a problem. Whereas the Comcast-TWC merger would have combined the two largest cable providers in the U.S., a merger between TWC and Charter may not pose as much of a competitive threat.

Bloomberg’s sources say a deal between the two companies could be announced as soon as tomorrow.

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