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CT Communications Shareholders Approve Windstream’s Buyout Offer


25/08/2007

CT Communications Inc. shareholders have voted to approve that company’s $585 million acquisition by larger rural carrier, Windstream Corp.

The small regional carrier held a special meeting on Thursday to finalize the proposed buyout offer, under which each CT Communications shareholder will receive $31.50 in cash. This deal is expected to formally close by the end of this month, pending customary closing conditions.

Windstream was created last year by the spin-off of Alltel’s predominantly rural landline telephone division. It will have a total of 3.4 million local phone customers and 744,000 broadband subscribers after completing the CT Communications acquisition.



 

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