Posted by: Market Watch in Market News four minutes in the past Cincinnati Bell Inc. stated Monday it has agreed to be acquired by Brookfie
Cincinnati Bell Inc. stated Monday it has agreed to be acquired by Brookfield Infrastructure Companions LP in a deal valued at about $2.6 billion. Beneath the phrases of the deal, Cincinnati Bell shareholders will obtain 60 cents a share in money, equal to a 36% premium over the closing share worth on Dec. 20 and an 84% premium to the 60-day quantity weighted common worth. The deal is anticipated to shut earlier than the top of 2020. Cincinnati Bell owns and operates an information transmission and distribution community serving 1.three million households in Cincinnati, Ohio and Hawaii. Cincinnati Bell shares weren’t lively premarket, however have fallen 0.8% in 2019, whereas the S&P 500 has gained 28.5%. Market Pulse Tales are Fast-fire, brief information bursts on shares and markets as they transfer. Go to MarketWatch.com for extra info on this information.
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