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Cincinnati Bell’s Combination with Hawaiian Telcom and OnX Enterprise Solutions

July 10, 2017

On July 10, 2017, Cincinnati Bell Inc. announced it has signed a definitive agreement to combine with Hawaiian Telcom, a leading integrated communications provider serving the state of Hawaii, for a total consideration of approximately $650 million. Cincinnati Bell has also signed a definitive agreement to acquire OnX Enterprise Solutions, a technology services and solutions provider in North America and the United Kingdom, for a total consideration of approximately $201 million in cash on a cash‑free, debt‑free basis. Cravath is representing Cincinnati Bell in connection with both transactions.

In connection with entering into the agreements, Cincinnati Bell obtained $1.1 billion of financing commitments, the proceeds of which will be used to finance a portion of the acquisitions and refinance existing indebtedness of Cincinnati Bell and Hawaiian Telcom.

The Cravath team is led by partner Robert I. Townsend III and includes associates Douglas C. Dolan, C. Daniel Haaren, Spencer C. Joffrion and Caleb B. Rosser and foreign associate attorney Conor R. O’Keeffe on M&A matters; partners William V. Fogg and Stephen M. Kessing and associates Andrew M. Wark and Stephanie L. Rowan on financing matters; partners Andrew W. Needham and Christopher K. Fargo and associates Kiran Sheffrin, Andrew T. Davis, Ashley May and Damien J. Rose on tax matters; partner Eric W. Hilfers and associate Aaron J. Feuer on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; partner David J. Kappos, practice area attorney Anthony N. Magistrale and associate Patrick E. Bassey on intellectual property matters; senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters; and senior attorney Jesse M. Weiss on antitrust matters. Evan E. H. Schladow also worked on real estate matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Capital Markets
  • Banking and Credit
  • Tax
  • Executive Compensation and Benefits
  • Environmental
  • Intellectual Property
  • Antitrust
  • Telecommunications

People

Photo
Name
Robert I. Townsend III
Title
Corporate
Title
Partner
Email
rtownsend@cravath.com
Phone
+1-212-474-1964
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    Education

    • J.D., 1990, Harvard Law School
      magna cum laude
    • A.B., 1987, Harvard College
      magna cum laude

    Admitted In

    • New York
    Photo
    Name
    William V. Fogg
    Title
    Corporate
    Title
    Partner
    Email
    wfogg@cravath.com
    Phone
    +1-212-474-1131
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      Education

      • J.D., 1991, Columbia Law School
        Harlan Fiske Stone Scholar
      • A.B., 1988, Brown University
        magna cum laude

      Admitted In

      • New York
      Photo
      Name
      Stephen M. Kessing
      Title
      Corporate
      Title
      Partner
      Email
      skessing@cravath.com
      Phone
      +1-212-474-1152
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        Education

        • J.D., 2005, Duke Law School
          Order of the Coif, magna cum laude
        • M.B.A., 2001, University of Southern California
        • B.S., 1995, Miami University of Ohio

        Admitted In

        • New York
        Photo
        Name
        Christopher K. Fargo
        Title
        Tax
        Title
        Partner
        Email
        cfargo@cravath.com
        Phone
        +1-212-474-1236
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          Education

          • J.D., 2006, Columbia Law School
            Harlan Fiske Stone; Michael Lynne Scholar
          • B.A., 2003, Boston College
            Honors Program, cum laude

          Admitted In

          • New York
          Photo
          Name
          Eric W. Hilfers
          Title
          Executive Compensation and Benefits
          Title
          Partner
          Email
          ehilfers@cravath.com
          Phone
          +1-212-474-1352
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            Education

            • J.D., 1998, University of Chicago Law School
              with Honors
            • A.B., 1995, Princeton University

            Admitted In

            • New York
            Photo
            Name
            Matthew Morreale
            Title
            Corporate
            Title
            Partner
            Email
            mmorreale@cravath.com
            Phone
            +1-212-474-1534
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              Education

              • J.D., 1997, Columbia Law School
                Harlan Fiske Stone Scholar
              • M.S., 1994, University of Pennsylvania
              • B.A., 1990, University of Pennsylvania
              • B.A.S., 1990, University of Pennsylvania

              Admitted In

              • New York
              Photo
              Name
              David J. Kappos
              Title
              Corporate
              Title
              Partner
              Email
              dkappos@cravath.com
              Phone
              +1-212-474-1168
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                Education

                • J.D., 1990, University of California, Berkeley, School of Law
                • B.S., 1983, University of California, Davis
                  summa cum laude

                Admitted In

                • New York
                • California
                • District of Columbia
                Photo
                Name
                Andrew W. Needham
                Title
                Tax
                Title
                Retired Partner
                Email
                aneedham@cravath.com
                Phone
                +1-212-474-1999
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                  Education

                  • M.B.A., 1992, The Wharton School of the University of Pennsylvania
                  • LL.M., 1990, Georgetown University Law Center
                  • J.D., 1986, Georgetown University Law Center
                  • B.A., 1982, University of Arizona College of Law

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