The special committee of independent directors at Mediacom Communications has now obtained outside advisors to help it evaluate the bid by CEO Rocco Commisso to take the company private. Commisso has offered to buy out other shareholders for $6 per share.
The special committee announced that it has retained Barclays Capital Inc. as financial advisor to assist in its review of the non-binding, going-private proposal. The committee also engaged Simpson Thacher & Bartlett LLP to provide legal advice.
In connection with the proposed going-private transaction, Commisso has advised Mediacom that he has retained JPMorgan Securities and BofA Merrill Lynch as his financial advisors, and Baker Botts LLP as his legal advisor.
Mediacom’s stock has been trading closer to $7 since Commisso announced the $6 offer.