Allen buys up more of Charter.(Paul Allen purchases more Charter Communications Inc. stock)
Multichannel News, December, 2002 by Farrell, Mike
Charter Communications Inc. stock was up about 12 percent in early trading last Wednesday, after the company revealed that chairman Paul Allen had purchased 845,940 shares of common stock at $29.61 each, as part of an earlier "put" agreement.
The purchase, made on Nov. 25, increased Allen's holdings in Charter's class A common stock to about 19.8 million shares. Allen controls about 93 percent of Charter's voting stock.
In a research report, UBS Warburg analyst Aryeh Bourkoff said the "put" agreement likely stems from Charter's purchase of Falcon Holding Group Inc. in November 1999. According to that agreement, Charter paid part of the purchase price in cash and part in units of Charter Communications Holding Co. LLC that could be put to Allen at...
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