Mediacom Going Private?
Posted by Steve Fravel on Tuesday, June 1, 2010 · 
·
· 
Mediacom Communications announced today that it has received a non-binding proposal that would result in the company going private.
Rocco Commisso, founder of Mediacom Communications and Chairman and CEO of the firm, is the author of the proposal. No changes in management or day-to-day operations are contemplated. Commisso would pay $6 per share in cash to acquire all Class A and Class B stock. Commisso currently owns 40% of the Mediacom common stock, reflecting an 87% voting majority.
Commisso would continue in his current roles with the company. In a press release, Mediacom has announced that the Board of Directors has appointed a “Special Committee” to consider the proposal. In addition, Mediacom is advising interested parties to read all relevant documents when they are filed with the Securities and Exchange Commission. Copies of these materials will be available at the SEC website: www.sec.gov.
Additional information is available via a company press release.
Related posts: