Why Cincinnati Bell Stock Just Jumped 14%
Cincinnati Bell (NYSE: CBB) is the most popular belle at the ball. Who knew?
In December, as you may recall, Cincinnati Bell stock popped 35% in response to a bid by Brookfield Infrastructure Partners (NYSE: BIP) to acquire the company for $10.50 per share. One month later, an unidentified bidder -- which later turned out to be Australia's Macquarie Infrastructure and Real Assets (MIRA) -- trumped Brookfield's bid, offering $12 per share. And last week, Brookfield upped its own offer to $12.50.
Fast-forward a few more days, and today we learn that Macquarie Infrastructure is upping its own offer to acquire Cincinnati Bell to $13.50 a share.
Source Fool.com
