Consolidated Communications to buy FairPoint in $1.5 billion deal

Reuters News
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Posted: Dec 05, 2016 7:28 AM

(Reuters) - Data service provider Consolidated Communications Holdings Inc said on Monday it would buy broadband service provider FairPoint Communications Inc in an all-stock deal valued at $1.5 billion, including debt.

Shareholders of FairPoint Communications will receive 0.73 shares of Consolidated Communications for each share held.

The combined company is expected to have annual revenue of more than $1.5 billion, Consolidated Communications said.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D'Silva)