Global Infrastructure Partners Said to Be Evaluating Bid for WideOpenWest (WOW) - Source

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WideOpenWest (NYSE: WOW), the sixth-largest cable operator in the United States, is said to have drawn takeover interest from Global Infrastructure Partners, according to a source. The company is said to have hired investment banking and legal advisors as it evaluates options.
In May, Bloomberg News reported that Morgan Stanley Infrastructure Partners was in talks to acquire WideOpenWest. Sources indicated that Morgan Stanley Infrastructure Partners continues to be involved in the bidding.
New York-based private equity firm Crestview Partner currently holds the largest stake in the cable operator at 36%. Crestview first backed WideOpenWest in 2015, when it purchased a stake from Avista Capital Partners and other investors.
Founded in 1996, WideOpenWest’s network passes more than 3.2 million homes in the U.S.
New York-based Global Infrastructure Partners is an $81 billion independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. It targets investments in the energy, transport, digital infrastructure, and water/waste sectors.
Currently trading below $18 per share, some analysts have suggested WideOpenWest could be worth $30 per share in a takeover.
WideOpenWest said they don't comment on rumors and speculation and Global Infrastructure Partners has not responded to a request to comment.
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