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Cox Buyout Close to Completion

Cox Communications Inc. moved closer to going private as enough public shareholders accepted an offer by parent company Cox Enterprises Inc. CEI made a public tender offer for the 38% of the cable company it didn't already own, buying out public investors at $34.75 per share.

Enough investors agreed to give CEI more than 90% of all of Cox's shares. That's enough for CEI to force a merger with the company and delist shares of the holdouts.

The deal is expected to close Dec. 8.