Plus   Neg

Cincinnati Bell, Brookfield Amend Merger Agreement; Deal Now Valued At $2.80 Bln

Cincinnati Bell Inc. (CBB) has amended its merger agreement with Brookfield to raise the consideration payable to holders of outstanding shares of Cincinnati Bell stock to $13.50 per share from $12.50 per share. The amendment followed the receipt by Cincinnati Bell of a binding proposal, valued at $13.50 per share, from Macquarie Infrastructure and Real Assets Inc.

Cincinnati Bell's Board approved the amended merger agreement with Brookfield and recommended that shareholders vote in favor of adopting the amended merger deal.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Zoom Video Communications (ZM) gained 4% on extended session Tuesday after the video conferencing software company reported a first-quarter results that trumped Wall Street estimates and issued a outlook for the second and full year 2021 that is expected to beat current expectations. First-quarter... The National Retail Federation Chief Economist Jack Kleinhenz said it was too early to say how quickly or smoothly the U.S. economy would stage a recovery following the "sizable disruptions" due to the coronavirus pandemic. However, he noted that the reopening of businesses and the resumption of economic activity is a significant step forward. Following the recall of type 2 diabetes medication Metformin Hydrochloride Extended-Release (ER) by Apotex last week, the U.S. Food and Drug Administration or FDA has recommended more pharmaceutical companies, who are manufacturers of the drug formulation, to recall their products.
Follow RTT