LB Partners condemns WideOpenWest (WOW) for accepting an insufficient insider offer

Key Summary:  On May 30, 2024, LB Partners (7.9%) delivered a letter to the management and board criticizing the board's acceptance of an inadequate offer from insiders to acquire the company for $4.80 per share.

Market Cap: $405 million | WideOpenWest, Inc. provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. 

On May 30, 2024, LB Partners (7.9%) delivered a letter to the management and board criticizing the board's acceptance of an inadequate offer from insiders to acquire the company for $4.80 per share. LB Partners argued that the offer significantly undervalued the company and its potential, especially considering recent investments in fiber assets. They highlighted several factors, including the company's historically higher valuation, the strategic importance of its fiber assets, and the temporary nature of current challenges facing the business. They also stressed the importance of protecting minority shareholders' interests and expressed willingness to continue holding shares if a fair offer isn't secured.