Cincinnati Bell to ditch Brookfield deal after ‘superior’ Macquarie proposal

The tug-of-war over regional US operator Cincinnati Bell could soon draw to a close after the telco notified Canada’s Brookfield Infrastructure that the latest offer from rival bidder Macquarie Infrastructure and Real Assets (MIRA) represents a ‘superior company proposal’. Under the terms of MIRA’s proposal, which contains ‘definitive documentation’, MIRA would acquire all outstanding shares of Cincinnati Bell common stock for USD15.50 per share in cash. After complying with its obligations under the Brookfield merger agreement, Cincinnati Bell now intends to terminate the deal and enter into a definitive agreement with MIRA.