Illinois-based broadband service provider Consolidated Communications has reached an agreement to acquire fiber-to-the-home pioneer SureWest Communications in a transaction valued at $340.9 million, the companies announced this morning.
Under terms of the definitive agreement, Consolidated will acquire all the outstanding shares of SureWest in a cash and stock transaction valued at $23 per share, exclusive of debt.
The transaction is expected to generate annual operating synergies of approximately $25 million and annual capital expenditure synergies of $5 million to $10 million, which are expected to be fully realized by the end of the first full year after close on a ...
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