Consolidated’s Shareholders Approve SureWest Buy

Consolidated Communications Holdings, Inc. on Tuesday announced that its shareholders approved the issuance of common stock pursuant to the merger agreement between Consolidated and SureWest Communications.

All regulatory notices and approvals that were conditions to the merger have been completed, according to Mattoon, Illinois-based Consolidated.

In February, Consolidated announced an agreement to acquire Roseville, Calif.-based SureWest in a cash and stock deal valued at $23 per share or $340.9 million. Consolidated said the deal would compliment its operations in Illinois, Pennsylvania and Texas.

Under the terms of the merger agreement, Surewest’s shareholders may elect to exchange each share of SureWest common stock for either $23 in cash or shares of Consolidated common stock having an equivalent value.

The merger is expected to close on July 2, 2012.

As of the first quarter of 2012, SureWest reported 266,700 total residential RGUs (revenue generating units) and 15,900 business customers. Consolidated reported 473,113 total connections.

Leave a comment

Your email address will not be published. Required fields are marked *


Which will be the first activity you participate in at the Channel Partners Conference & Expo?

View Results

Loading ... Loading ...
The ID is: 84914