Moody's: Consolidated Communications' (CNSL) Merger is Credit-Positive Event
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Consolidated Communications (CNSL) to Acquire Enventis (ENVE) in $350M Deal
June 30, 2014 8:04 AM EDTConsolidated Communications Holdings, Inc. (Nasdaq: CNSL) and Enventis Corporation (Nasdaq: ENVE), formerly HickoryTech, announced that each of their respective Boards of Directors have approved a definitive agreement for Enventis to merge with Consolidated Communications. This agreement is an all-stock transaction in which Consolidated Communications will acquire 100 percent of Enventis' 13.8 million (fully diluted) shares outstanding in a transaction valued at approximately $350 million.
Under the terms of the agreement, Enventis shareholders will receive a fixed exchange ratio of 0.7402 shares of CNSL common stock for each share... More
