Status:  Unknown

Acquirer:  Brookfield Asset Management (Canada)

Acquired:  Cincinnati Bell Inc. (US)

Value:  US$2.6 billion

Industry:  Telecommunications; Infrastructure

Global telecommunication network,

UPDATE:  On March 13, 2020, Cincinnati Bell Inc. and  Macquarie Infrastructure Partners (“MIP”) “announced an agreement through which an MIP-controlled subsidiary will acquire all outstanding shares of Cincinnati Bell,” following the determination by Cincinnati Bell’s Board of Directors that “the MIP proposal constituted a ‘Superior Company Proposal’ as defined in Cincinnati Bell’s previously announced Brookfield merger agreement.”  (Cincinnati Bell Inc. Form 10-Q, Ex-99.1, Feb. 18, 2021, SEC Filing.)  “MIP is a fund managed by Macquarie Infrastructure and Real Assets (“MIRA”),” an Australian asset management firm. (Id.)  “The transaction is subject to certain customary closing conditions and is expected to close in the first half of 2021.”  (Id.)

Posted on February 5, 2020

Status: Upcoming/New Filing

On December 21, 2019, Cincinnati Bell Inc., a publicly traded (NYSE: CBB) US provider of “communications solutions to residential and business customers over its fiber-optic and copper networks,” entered into a merger agreement with entities formed for the “purpose of entering into the merger agreement” and “capitalize[d]” by funds controlled by the Brookfield Infrastructure Group, which is the “infrastructure investment division” of “Brookfield Asset Management, a leading global alternative asset manager …” (Cincinnati Bell Inc. Schedule 14A, Feb. 4, 2020, SEC Filing.) CFIUS approval is a condition for closing the transaction.  (See Agreement and Plan of Merger, Section 7.01(c), Cincinnati Bell Inc. Form 8-K, Ex-2.1, Dec. 23, 2019, SEC Filing.)

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