Birch Communications to Acquire Cbeyond

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Go back to Birch Communications to Acquire Cbeyond

Birch Communications to Acquire Cbeyond, Inc. (CBEY) in $323M Deal

April 21, 2014 6:21 AM EDT

Birch Communications, Inc., a leading provider of business focused communications, cloud and managed services based in Atlanta and Cbeyond, Inc. (Nasdaq: CBEY) jointly announced today that they have entered into a definitive agreement under which Birch will acquire Cbeyond in an all-cash transaction valued at approximately $323 million.

Cbeyond stockholders will receive between $9.97 and $10.00 per share in cash. The exact amount will be determined based on stock transactions relating to previously granted stock awards to employees that occur after execution of the definitive agreement. At $9.97 per share, the purchase price represents a premium of 56.8%... More