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) 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

Quick Facts

Editors Pick
Telecommunications firm Sprint has extended its Black Friday unlimited data offer for a limited time, the company said in a statement on Monday. When customers switch at least one line to Sprint and sign up for Unlimited Freedom with AutoPay, they get unlimited data, talk and text starting at just $20 per month/line for a family of five until January 31, 2018. Shares of Cerecor Inc. (CERC) plunged over 13% on Monday on disappointing top-line clinical results from its phase II clinical trial of CERC-501 for smoking cessation. A US accounting watchdog slapped $8 million fine on Deloitte's Brazil division for issuing false audits of US-traded Brazilian airline Gol Intelligent Airlines in 2010. The agency also said that the company then doctored papers to thwart an investigation. The Public Company Accounting Oversight Board or PCAOB also announced a $750 thousand settlement with Deloitte Mexico.
comments powered by Disqus
Follow RTT