Consolidated Communications Announces Agreement To Be Acquired By Searchlight Capital Partners And British Columbia Investment Management Corporation For $4.70 Per Share In Cash; Transaction With An Enterprise Value Of ~$3.1B
Portfolio Pulse from Benzinga Newsdesk
Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) has announced a definitive agreement to be acquired by Searchlight Capital Partners and British Columbia Investment Management Corporation in an all-cash transaction valued at approximately $3.1 billion. The purchase price represents a premium of approximately 70% to the closing price of CNSL's common stock through April 12, 2023. The transaction has been approved by a special committee of independent and disinterested directors of the Board.
October 16, 2023 | 12:10 pm
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Consolidated Communications is to be acquired in a $3.1 billion deal, representing a 70% premium to the closing price of its common stock through April 12, 2023.
The acquisition deal represents a significant premium to the current stock price, which is likely to drive the stock price up in the short term. The deal has been approved by a special committee of independent and disinterested directors of the Board, indicating strong support for the transaction.
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