Cincinnati Bell reports that it will be acquired by Macquarie Infrastructure Partners (MIP) for $2.9 billion. The announcement comes after MIP and Brookfield Infrastructure Partners LP got into a bidding war over Cincinnati Bell. Brookfield Infrastructure Partners LP had a merger deal with Cincinnati Bell, but the latter announced it would end that deal so it can agree to a better one with MIP. Cincinnati Bell paid Brookfield a $24.8 million break-up fee. The deal between Cincinnati Bell and MIP is expected to close in early 2021.
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