Market News / Story
Cable One plunges on report lender filed lawsuit to block Mega Broadband deal
Seeking Alpha ·
Seeking Alpha reports: Cable One cratered 35% after a report that a lender filed a lawsuit seeking to block the cable operator from purchasing a 55% equity stake in Mega Broadband from financial sponsor GTCR. CoBank, which says it holds about $1.1 billion in secured credit issued by Cable One , asked a federal judge in New York to issue an emergency restraining order to prevent the company from transferring about $480 million for the Mega Broadband purchase, according a Bloomberg report on…