Cincinnati Bell, an Ohio telecommunications company, is in talks with a Brookfield Infrastructure fund to sell the shares of its common stock for $12 per share in cash.
In December 2019, Cincinnati Bell entered into a definitive agreement with Brookfield and its institutional partners that valued the common stock at $10.50 per share.
The deal has now advanced, with Cincinnati Bell’s board of directors making the required determinations. In addition, Brookfield has submitted a non-binding proposal to pay $12 per share instead.
The Brookfield Merger Agreement remains in effect at present; however, final approvals of the deal are not guaranteed.