Infrastructure fund makes ‘unsolicited acquisition proposal’ to Cincinnati Bell

24 January 2020 - 12:00 am UTC

An infrastructure fund made a “non-binding proposal” on 22 January to acquire all outstanding shares of Cincinnati Bell Inc.’s common stock for USD 12 per share, the regional telecommunications firm said on 24 January.

The proposal comes at a time when Cincinnati Bell entered into a definitive agreement with a Brookfield Infrastructure Partners LP led consortium on 23 December to acquire the telecom company’s outstanding shares of common stock for USD 10.50 per share in cash.

The merger agreement between Cincinnati Bell and the Brookfield consortium does allow room for company executives to discuss the proposal with the undisclosed fund, the telecom firm’s board of directors determined.

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