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Charter Communications is planning to announce 13 nominees to Time Warner Cable's board as soon as Monday, setting the stage for a proxy fight with the larger cable operator, according to a person familiar with the matter.
A full slate to replace the entire Time Warner Cable board may be presented later on Monday, the source said.
A Charter spokesman declined to comment, while a Time Warner Cable spokeswoman could not to be reached.
It was not yet clear whether Charter would raise its bid for Time Warner Cable when it announces the slate. Charter has been considering whether to raise its offer to the low $140s before or after it nominates a slate.
Time Warner Cable rejected Charter's offer of $132.50 per share in mid-January.
—By Reuters.