The bidders could not raise the necessary money.
The Washington Post reported the problems in the sale of Insight Communications, which Carlyle Group purchased for about $2.1 billion in 2005. Bidders including Time Warner Cable, had difficulty getting enough bank financing, according to the report.Seriously, owning a cable company is about as near as you can come to legalized theft in this country, and Time F&^%ing Warner could not find financing?
Merger and acquisition activity in the US is very close to collapsing.
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