Cincinnati Bell Inc. and Brookfield Infrastructure Sign Amended Merger Agreement
Cincinnati Bell Inc. (CBB)
Last cincinnati bell inc. earnings: 2/13 06:15 am
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Source: PR Newswire
CINCINNATI, Feb. 28, 2020 /PRNewswire/ -- Cincinnati Bell Inc. (NYSE:CBB) ("Cincinnati Bell") today announced that it has amended its definitive merger agreement with Brookfield Infrastructure and its institutional partners (collectively referred to as "Brookfield") to increase the consideration payable to holders of outstanding shares of Cincinnati Bell common stock to $12.50 per share in cash from $10.50 per share in cash, which values the transaction at approximately $2.745 billion, including debt. The revised transaction price represents a 62% premium to the closing per share price of $7.72 on December 20, 2019, the last trading day prior to the date when the merger agreement was entered into. Cincinnati Bell and Brookfield negotiated the amendment following the receipt by Cincinnati Bell on February 27, 2020 of a binding proposal (the "Proposal") to acquire all outstanding shares of Cincinnati Bell common stock for $12.50 from the infrastructure fund that previously sub
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