Why Cincinnati Bell Stock Just Popped 35%
Shares of Cincinnati Bell (NYSE: CBB) jumped this morning, racing ahead to a 34.8% gain as of 10:15 a.m. EST, after Brookfield Infrastructure Partners (NYSE: BIP) announced it will acquire the telecommunications provider in a transaction valued at $2.6 billion.
Brookfield says it plans to pay $10.50 per share to Cincinnati Bell shareholders, and the stock is now trading within just a few pennies of that takeout price.
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Source Fool.com
