In what might be the last big deal of the year, Brookfield Infrastructure and Cincinnati Bell have announced a $2.6B deal. Brookfield will be purchasing the Midwestern service provider for a cash price of $10.50 per share that will take the company private.
Cincinnati Bell has been considering its options for a while now, and their decision to sell to an infrastructure fund won’t surprise very many people. With deep pockets for ongoing investment, Brookfield can perhaps enable the company to expand its infrastructure and technology most efficiently.
Cincinnati Bell operates deep fiber and other infrastructure in not just the greater Cincinnati metro area but also Hawaii, as a result of its purchase of Hawaiian Telecom a few years ago — which itself was a bit of a head-scratcher at the time They have 1.3M homes on-net via 17K route miles of metro and last mile fiber with plenty of upgrades and expansions in mind for that footprint.
The deal is expected to close by the end of 2020.
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