Back to News
Activism

Brookfield Takes Cincinnati Bell Private

|
Published: June 22nd, 2020
Expanding its telecom portfolio, Brookfield Infrastructure Partners is buying Mario Gabelli-targted phone, broadband and video service provider Cincinnati Bell for $2.6 billion.

Expanding its telecom portfolio, Brookfield Infrastructure Partners LP (BIP) said Monday, Dec. 23, that it will buy regional phone, broadband and video service provider Cincinnati Bell Inc. (CBB) for $2.6 billion.

Brookfield agreed to pay $10.50 per share for Cincinnati Bell, driving shares of the Mario Gabelli-targeted telecom up 35% to $10.44 and pushing its market cap to nearly $530 million. The Cincinnati company also has about $2 billion in debt.

 

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

 

 

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Activism

Activism

The Crosshairs

By Ronald Orol
|
Published: June 14th, 2022
A list of the top 10 potential activist targets.
Activism

WisdomTree Deal Averts Proxy Battle

By Ronald Orol
|
Published: June 13th, 2022
The asset manager adds dissident nominees and removes a poison pill after talks break down over an apparent demand to give Australian Graham Tuckwell a board seat.