Brookfield matches higher offer for Cincinnati Bell, at USD 13.50 per share

News Broadband United States 4 MRT 2020
Brookfield matches higher offer for Cincinnati Bell, at USD 13.50 per share
Cincinnati Bell said Brookfield Infrastructure has raised its bid for the company to USD 13.50 per share in cash, or a total of USD 2.797 billion including debt, to match the latest unsolicited offer received from Macquarie Infrastructure and Real Assets (MIRA) earlier this week. 

Cincinnati Bell accepted a bid from Brookfield in December of USD 10.50 per share, and recommended the deal to its shareholders. The company then received a higher bid from MIRA of USD 12.0 per share, which Brookfield eventually matched. Cincinnati finally received the bid of USD 13.50 from MIRA, which Brookfield has again matched. 

Cincinnati Bell's board, together with its legal and financial advisors, still believe the Brookfield offer is the best fit and is recommending again that shareholders vote in favour of the deal. 

The deal as it now stands is expected to close by the end of the year.

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Fixed

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Cincinnati Bell

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United States

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Shareholders & subsidiaries, Corporate strategy, M&A buyouts & divestments

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