14 February 2012

Consolidated Communications Holdings and SureWest Communications have recently announced that two companies had entered into a definitive agreement; under the terms of the deal, Consolidated Communications will purchase all the outstanding shares of SureWest Communications in a cash and stock transaction valued at $23.00 per share, or a total of about $340.9 million, exclusive of debt.
SureWest's shareholders may exchange each share of SureWest Communications common stock for $23.00 in cash or shares of Consolidated Communications common stock “having an equivalent value based on average trading prices for the 20-day period ending two days before the closing of the acquisition.”
This strategic combination offers strengthened scale with operations across six states and 1,775 employees.
Consolidated and SureWest together will extend “upon the strong reputations each has built with its customers and in the communities served.”
Consolidated Communications officials commented that this transaction combines company’s cash flow generating business with SureWest Communcations's growth oriented strategy, that results in “a financially strong company with a robust balance sheet and attractive dividend payout ratio.”

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