Cincinnati Bell Investor Sues Over Macquarie's $2.9B Deal

Law360 (April 13, 2020, 4:56 PM EDT) -- Cincinnati Bell Inc. provided shareholders with incomplete disclosures following its announcement of a $2.9 billion merger with Macquarie Infrastructure Partners, an investor told a New York federal court.

Cincinnati Bell and its directors omitted or misrepresented key information about the company's financial prospects and the recommendations of its financial advisers, investor Ralph Vollweiler said Sunday. Unless the company updates its proxy statement before the acquisition deal goes to a shareholder vote, investors will be left in the dark on important considerations about the transaction, Vollweiler said.

"Unless and until the material misstatements and omissions ... are remedied before the May 7,...

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