B. Riley to Acquire magicJack VocalTec Ltd. for $8.71 Per Share

LOS ANGELES, Calif. and WEST PALM BEACH, Fla. and NETANYA, Israel, Nov. 09, 2017  -- B. Riley Financial, Inc. (“B. Riley”)(NASDAQ:RILY), a diversified financial services company, and magicJack VocalTec, Ltd. (“magicJack”)(NASDAQ:CALL), a leading Voice over IP (VOIP) cloud-based communications company, have signed a definitive merger agreement, pursuant to which B. Riley will acquire magicJack for $8.71 per share, representing a 23% premium over magicJack’s 90-day average stock price and approximately $143 million in aggregate merger consideration. It is anticipated that magicJack will be held by B. Riley’s subsidiary B. Riley Principal Investments, LLC, the entity that currently owns United Online, Inc., a complementary telecommunications company. B. Riley expects to finance the transaction using cash on hand and debt financing.
 
“With magicJack, we look to replicate the success we’ve had with our United Online acquisition by again leveraging our operational expertise to generate significant cash flows. The synergistic potential, combined with magicJack’s subscriber base and brand name, make this an attractive investment opportunity,” said Kenny Young, CEO of B. Riley Principal Investments and a veteran telecom executive.
Published: 09 November 2017
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Hawaiian Telcom Enters into Definitive Agreement to Merge with Cincinnati Bell

Hawaiian Telcom Stockholders to Receive $30.75 per Share Consideration in a Cash and Stock Transaction
Companies Join Forces to Ensure Continued Focus on Fiber Investments in Local Communities

HONOLULU, July 10, 2017  -- Hawaiian Telcom (NASDAQ:HCOM), Hawai‘i’s leading fiber-based integrated communications provider, and Cincinnati Bell (NYSE:CBB), a leading fiber and IT services and solutions business, today announced that their boards of directors approved a definitive agreement under which the companies will combine in a cash and stock transaction valued at approximately $650 million, including the assumption of net debt.

Published: 10 July 2017
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Straight Path Board Determines that a Revised Offer from a Multi-National Telecommunications Company to Acquire Straight Path for $184.00 Per Share Constitutes a “Superior Proposal ”

GLEN ALLEN, Va. -- Straight Path Communications Inc. (“Straight Path”) (NYSE MKT:STRP) announced today that the Straight Path Board of Directors (the “Straight Path Board”) determined that a revised offer from a multi-national telecommunications company (the “Bidder”) to acquire 100% of the issued and outstanding shares of Straight Path for $184.00 per share (reflecting an enterprise value of approximately $3.1 billion), which will be paid in Bidder stock in an all-stock transaction constitutes a “Superior Proposal” as defined in Straight Path’s previously announced definitive agreement and plan of merger with AT&T Inc. (“AT&T”) (NYSE: T) and Switchback Merger Sub Inc., dated as of April 9, 2017 (the “AT&T Merger Agreement”). The Bidder previously submitted an unsolicited offer on May 1, 2017 to acquire 100% of the issued and outstanding shares of Straight Path for $135.96 per share (reflecting an enterprise value of $2.3 billion), which has been superseded by the revised offer announced today.
Published: 08 May 2017
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AT&T Enters Into Definitive Agreement to Acquire Straight Path Communications for $95.63 per Share in All Stock Deal

GLEN ALLEN, Va. -- Today, Straight Path Communications Inc. (NYSE MKT: STRP) and AT&T (NYSE: T) announced the signing of a definitive merger agreement under which AT&T is to acquire Straight Path for $95.63 per share in an all-stock merger intended to qualify as a tax-free reorganization. Straight Path is one of the largest holders of 28 GHz and 39 GHz millimeter wave spectrum. The transaction, which was approved by the Board of Directors of both companies, brings Straight Path’s previously announced strategic alternatives process to a conclusion and maximizes Straight Path shareholder value. The transaction has a total value of $1.6 billion which includes liabilities and amounts to be remitted to the FCC per the terms of Straight Path’s January 2017 consent decree. Straight Path shareholders will receive $1.25 billion, or $95.63 per share, which will be paid using AT&T stock.
Published: 10 April 2017
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Inteliquent Agrees to be Acquired by GTCR

GTCR to pay $23.00 per share, representing a 37% premium to Inteliquent’s closing stock price on November 1, 2016
Transaction valued at approximately $800 million
 
CHICAGO, Nov. 02, 2016 -- Inteliquent, Inc. (IQNT), a premier interconnection partner for communications service providers of all types, announced today that it has entered into a definitive agreement to be acquired by an affiliate of GTCR LLC, a leading private equity firm, and merged with a subsidiary of Onvoy, LLC a fast-growing leader in Communications Enablement services. Under the terms of the agreement, Inteliquent stockholders of record will receive $23.00 in cash per share of common stock, which represents a 37% premium to Inteliquent’s closing stock price on November 1, 2016. The value of the transaction is approximately $800 million.
Published: 03 November 2016
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