WideOpenWest shares are trading higher after the company received an unsolicited non-binding preliminary proposal from DigitalBridge Investments and various Crestview entities to purchase all of the outstanding shares of WOW! that Crestview does not currently own for $4.80 per share in cash.
Portfolio Pulse from Benzinga Newsdesk
WideOpenWest (WOW) shares surged following an unsolicited non-binding preliminary proposal from DigitalBridge Investments and Crestview entities to acquire all outstanding WOW shares not owned by Crestview for $4.80 each in cash.
May 03, 2024 | 12:07 pm
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WideOpenWest's stock price is likely to experience upward pressure in the short term due to the acquisition proposal at $4.80 per share in cash.
The unsolicited buyout offer for WideOpenWest by DigitalBridge Investments and Crestview entities at a cash price of $4.80 per share is a significant premium to its recent trading levels. This typically leads to a positive market reaction as investors anticipate a potential acquisition. The offer indicates a strong interest in acquiring all outstanding shares not already owned by Crestview, suggesting a bullish outlook for WOW's stock in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100