Battle for Adelphia


Just when you thought Time Warner and Comcast would be able to walk away with Adelphia, in comes William Huff, and looks like he is going to get the auction going and increase the prices on this deal. New York Post reports that Huff, a bond investor and principal at W.R. Huff Asset Management Co., is one of Adelphia’s largest creditors, “has amassed enough debt of the scandal-ridden company to potentially block a sale, is understood to have submitted — or be planning to submit — his own separate bid to buy the company.” He has teamed up with two equity investment groups, and is ready to pillage the competition. TW& Comcast have bid slightly more than $17 billion for Adelphia, which is about the same amount as a joint bid from private equity firms Kohlberg Kravis Roberts & Co. and Providence Equity Partners. Huff, wants to get a little more than that at the very least – $17.5 billion.

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