Cincinnati Bell Names Macquarie the Superior Bidder
Cincinnati Bell plans to terminate a takeover pact by Brookfield Infrastructure to enter an agreement with another bidder, the telco announced Friday. Macquarie would acquire the phone services provider for $15.50 per share cash. The carrier deemed that superior to…
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its agreement with Brookfield, which started out valued at nearly 50% lower than the new bid and was recently raised to $13.50 (see 2003040004).