Shareholders of Cincinnati Bell agree to the company’s acquisition by a subsidiary of Macquaire Infrastructure partners for an estimated $2.9B.
“At a special meeting that was held virtually on Thursday, the proposal to adopt the merger agreement was approved by more than two-thirds (or 75.35%) of shares that were outstanding, and more than 99% of the votes cast.”
Mike Robuck, Editor at FierceTelecom
The consideration for the acquisition will be a mix of cash and debt with Macquaire paying $15.50 per share. The deal is predicted to be completed in the first half of 2021.