FBR Capital Upgrades Shenandoah Telecommunications (SHEN) to Outperform
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NTELOS To Be Acquired By Shentel
August 10, 2015 4:22 PM EDTWAYNESBORO, Va., Aug. 10, 2015 /PRNewswire/ -- NTELOS Holdings Corp. ("NTELOS"; NASDAQ: NTLS) announced today that it has entered into a definitive agreement to be acquired by Shenandoah Telecommunications Company ("Shentel"; NASDAQ: SHEN) in an all-cash transaction valued at approximately $640 million, including net debt.
NTELOS stockholders will receive approximately $208 million in cash, or $9.25 per share, representing an approximately 60% premium over the 30 day volume weighted average price of NTELOS's stock as of August 7, 2015. Shentel will assume NTELOS's net debt, which, when adjusted for expected Eastern Markets wind down... More
