ABRY Partners Offers To Buy RCN Corporation For $536 Million In Cash

Posted Mar 5, 2010

Investment company ABRY Partners has made an offer to buy out RCN Corporation for $536 million in cash. ABRY’s offer is in the form of $15 per share in cash, which is 22% more than RCN’s closing price. ABRY Partners will assume RCN’s debt as part of the deal too. As of September 30, 2009 RCN has debt that was about $730 million. ABRY manages about $2.75 billion in cash and is based in Boston. [Reuters]