logo
Share SHARE
FONT-SIZE Plus   Neg

WOW! To Buy Knology For $19.75/Shr In Cash - Quick Facts

WOW! Internet, Cable & Phone, a competitive provider of residential and commercial high-speed Internet, cable television and telephone services which is controlled by Avista Capital Partners, and Knology, Inc. (KNOL: Quote) jointly announced a definitive merger agreement under which a subsidiary of WOW! will acquire Knology in an all-cash transaction.

As per the terms of the agreement, WOW! will buy all of the outstanding shares of Knology for $19.75 per share in cash, representing a premium of about 34% over Knology's average closing share price during the 3-month period prior to media reports on Knology's sales process. The total transaction value is around $1.5 billion.

The Board of Directors of Knology, acting on the unanimous recommendation of a Transaction Committee of the Board, unanimously approved the transaction, which is expected to close after receipt of approval by Knology's stockholders and satisfaction of customary closing conditions and regulatory approvals. The transaction is not subject to any financing conditions.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Fiat Chrysler Automobiles NV (FCAU) is recalling nearly 26 thousand Chrysler 200s to fix a transmission issue that may prevent the vehicle from shifting into "park." Chrysler said that certain 2015-model year Chrysler 200 vehicles with V6 engines were affected. Chrysler blamed "inconsistent assembly... Gap reported an increase in fourth-quarter profit, as same store sales climbed 11 percent at its Old Navy brand, partly offset by currency impact. Earnings for the quarter topped Wall Street estimates by a penny, while sales were in line with expectations. J.C. Penney Co. Inc. (JCP) Thursday reported a swing to loss in the fourth-quarter from a profit last year, reflecting the absence of benefits from hefty tax gains recorded last year, despite a higher-than-expected revenue growth. Shares of the struggling department store chain plunged a near 10 percent,...
comments powered by Disqus
Follow RTT