Cincinnati Bell (CBB) Announces Receipt Of Unsolicited Acquisition Proposal

  • January 27, 2020

POTENTIAL DEAL DETAILS

Stock Cincinnati Bell Inc. Symbol CBB
Date Announced 01/24/2020 Source Press release
Type Unsolicited Bid Acquiring Company/Person Macquarie Infrastructure Partners
Date of Confirmation: 03/13/2020 Price at Confirmation: $14.70
Potential Profit: 6.91% Annualized Profit: 51.47%

Cincinnati Bell Inc. (CBB) today announced that on January 22, 2020 it received a non-binding proposal from an infrastructure fund to acquire all of the outstanding shares of common stock of Cincinnati Bell for $12.00 per share in cash.

Update(s):

March 02, 2020: Cincinnati Bell Inc. (CBB) today announced that on March 2, 2020 it received a binding proposal from Macquarie Infrastructure and Real Assets Inc. to acquire all of the outstanding shares of common stock of Cincinnati Bell for $13.50 per share in cash (the “Proposal”).

March 04, 2020: Cincinnati Bell Inc. (CBB) today announced that it has amended its definitive merger agreement with Brookfield Infrastructure and its institutional partners to increase the consideration payable to holders of outstanding shares of Cincinnati Bell common stock to $13.50 per share in cash from $12.50 per share in cash, which values the transaction at approximately $2.797 billion, including debt.

March 06, 2020: Cincinnati Bell Inc. (CBB), today announced it has received a binding proposal from Macquarie Infrastructure and Real Assets Inc. (“MIRA”) that Cincinnati Bell’s Board of Directors, in consultation with its legal and financial advisors, has determined constitutes a “Superior Company Proposal” as defined in Cincinnati Bell’s previously announced merger agreement with Brookfield Infrastructure .Under the terms of MIRA’s proposal, which contains definitive documentation, MIRA would acquire all outstanding shares of common stock of Cincinnati Bell for $15.50 per share in cash.

March 13, 2020: Cincinnati Bell Inc. (CBB), together with Macquarie Infrastructure Partners, today announced an agreement through which a MIP-controlled subsidiary will acquire all outstanding shares of Cincinnati Bell for $15.50 per share in a cash transaction valued at approximately $2.9 billion, including debt. MIP is a fund managed by Macquarie Infrastructure and Real Assets. Certain Special Opportunities funds  managed by the Private Equity Group of Ares Management Corporation (ARES) have agreed to provide equity financing for the Transaction.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.