MIRA lifts bid for Cincinnati Bell to final USD 15.50 per share in cash

Nieuws Breedband Verenigde Staten 9 MAR 2020
MIRA lifts bid for Cincinnati Bell to final USD 15.50 per share in cash

Cincinnati Bell has received a new acquisition bid from Macquarie Infrastructure (MIRA), at USD 15.50 per share in cash. The company had previously accepted the offer from Brookfield Infrastructure, with the latest bid at USD 14.50 per share. Brookfield made the first bid for Cincinnati Bell in December, with the company recommending the offer to its shareholders. MIRA has since then incrementally increased the cash offer, matched so far by Brookfield. This time, Brookfield said it will not meet the new bid.

Cincinnati Bell said Brookfield has until 12 March to match MIRA “superior company proposal” but that it will the negotiation period lapse. Cincinnati Bell said it will then be able to end the Brookfield merger agreement and ink a definitive agreement with MIRA. 

 

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