Earlier today, Comcast Cable announced that it agreed to acquire Time Warner Cable in a $45 billion mega-deal. What's in it for Comcast Cable shareholders? "This combination creates a company that delivers maximum value for our shareholders," said Comcast CEO Brian Roberts. How are they going to do that? The company explains in one sentence that probably has every Comcast and Time Warner Cable employee nervous. "The transaction will generate approximately $1.5 billion in operating efficiencies and will be accretive to Comcast’s free cash flow per share while preserving balance sheet strength." "Operating efficiencies" usually means the closing and combining...