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Strategies & Market Trends : Speculating in Takeover Targets
ULBI 10.10-0.9%Jun 18 4:00 PM EDT

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From: E_K_S12/23/2019 8:45:26 AM
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Brookfield Infrastructure to buy Cincinnati Bell in $2.6B deal
Dec. 23, 2019 7:25 AM ET|

Cincinnati Bell (NYSE: CBB) agrees to be acquired by Brookfield Infrastructure (NYSE: BIP) in a deal valued at ~$2.6B including debt.

Under the deal terms, each CBB common share will be converted into the right to receive $10.50 in cash, which represents a 36% premium over last Friday's closing price and an 84% premium to the 60-day volume weighted average price.

"This investment represents an opportunity... to acquire a great franchise and leading fiber network operator in North America," says BIP CEO Sam Pollock.
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