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News Breaks
February 27, 2013
16:11 EDTCBEYCbeyond sees 2013 revenue $475M-$485M, consensus $478.57M
Sees CapEx $60M-$65M. Sees adjusted EBITDA $75M-$82M.
News For CBEY From The Last 14 Days
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April 21, 2014
12:47 EDTCBEYOn The Fly: Midday Wrap
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12:00 EDTCBEYCbeyond rises 38.7%
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11:27 EDTCBEYCbeyond downgraded to Neutral from Buy at DA Davidson
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10:00 EDTCBEYCbeyond rises 38.3%
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09:21 EDTCBEYOn The Fly: Pre-Market Movers
HIGHER: Sarepta (SRPT), up 54% after announcing plans to to submit NDA for Eteplirsen by year end 2014. Shares of Prosnesa (RNA), another drugmaker working on a competing DMD drug, are up more than 12%... AstraZeneca (AZN), up 6% after the Sunday Times says that Pfizer (PFE) is considering a takeover bid for the company. Pfizer is up 1.2% following the report... Newmont Mining (NEM), up 8% after WSJ says the company and Barrick Gold (ABX) could resume merger talks as soon as today... Cbeyond (CBEY), up 39% after agreeing to be acquired for about $323M by Birch Communications... Momenta Pharma (MNTA), up 10.5% after the Supreme Court rejected Teva's (TEVA) bid to delay generic Copaxone... Nu Skin (NUS), up 5% after saying its China division will resume corporate-hosted business meetings... Micron (MU), up 4% after price target raised at Drexel Hamilton... DOWN AFTER EARNINGS: Acacia Research (ACTG), down 6%... athenahealth (ATHN), down 5.6%.
09:00 EDTCBEYCbeyond rises 39.4%
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06:01 EDTCBEYBirch Communications to acquire Cbeyond for approximately $323M
Birch Communications and Cbeyond jointly announced that they have entered into a definitive agreement under which Birch will acquire Cbeyond in an all-cash transaction valued at approximately $323M. 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% over Cbeyond's stock price on November 5, 2013, the trading date before Cbeyond announced its process to explore strategic alternatives, and a premium of 40.8% over the closing price of Cbeyond's stock on Thursday April 17. The transaction has been unanimously approved by the boards of directors of both companies. The transaction is expected to close within six months, subject to customary conditions, including necessary approvals from federal and state regulators and the Cbeyond stockholders. Birch has obtained financing commitments from PNC Capital Markets LLC and Jefferies Finance LLC. Lazard is acting as sole financial advisor and Jones Day is acting as legal advisor to Birch in the transaction.

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