Cable Operators

Cox Takeover Completed

12/08/2004 8:53 AM Eastern

Cox Enterprises Inc. said Wednesday that its previously announced acquisition of the publicly held minority interest of Cox Communications Inc. is officially completed.

In the $8.5 billion transaction, Cox Holdings, Inc., a wholly owned subsidiary of CEI, acquired CCI through a cash tender offer for $34.75 per share and a short-form merger.

Any outstanding shares of CCI class-A common stock not purchased in the tender offer -- other than those as to which appraisal rights are perfected -- were converted into the right to receive $34.75 each in cash, without interest, the company said.

CEI announced last Friday that it had successfully completed its cash tender offer for the 38% of CCI stock it didn’t already own, paving the way for taking the Atlanta-based MSO private.

CCI will be delisted from the New York Stock Exchange Thursday.

Want to read more stories like this?
Get our Free Newsletter Here!

Cloud Summit

Raleigh Marriott City Center, Raleigh, NC