Macquarie Infrastructure Unit To Acquire Cincinnati Bell - Quick Facts

(RTTNews) - Cincinnati Bell Inc. (CBB) has reached an agreement with Macquarie Infrastructure Partners, or MIP, under which a MIP-controlled subsidiary will acquire all outstanding shares of Cincinnati Bell for $15.50 per share in a deal valued at approximately $2.9 billion, including debt. Each issued and outstanding share of Cincinnati Bell common stock will be converted into the right to receive $15.50 in cash.

The transaction is expected to close in the first half of 2021, and is subject to certain customary closing conditions, including the approval by Cincinnati Bell's shareholders.