Cincinnati Bell’s Amended Agreement for its $2.745 Billion Acquisition by Brookfield

On February 28, 2020, Cincinnati Bell Inc. (“Cincinnati Bell”), which delivers integrated communications solutions to residential and business customers over its fiber‑optic and copper networks, announced that it has amended its definitive merger agreement with global company Brookfield Infrastructure and its institutional partners (collectively referred to as “Brookfield”) to increase the consideration payable to holders of outstanding shares of Cincinnati Bell common stock, which values the transaction at approximately $2.745 billion. This follows Cincinnati Bell’s announcement on December 23, 2019, of an agreement to be acquired by Brookfield in a transaction valued at approximately $2.6 billion. (To read the announcement about the original agreement, please click here.) Cravath is representing Cincinnati Bell in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes senior attorney Brittain A. Rogers, associates Daniel J. Cerqueira and Ashkan Towhid and foreign associate attorney Dan McNamara on M&A matters; partners William V. Fogg and Stephen M. Kessing on financing matters; partners Andrew W. Needham and Christopher K. Fargo and associate Kiran Sheffrin on tax matters; partner Eric W. Hilfers and associates Sally Ye and Anna Mikaelyan on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters; and practice area attorney Anthony N. Magistrale on intellectual property matters. Ty A. Carleton also worked on M&A matters; Kelly Nichole King also worked on financing matters; and Kyle R. Jorstad also worked on tax matters.