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US: Telcoms join forces In $1.1B merger

 |  November 7, 2016

Windstream Holdings said on Monday it would buy fellow US telecommunications company EarthLink Holdings in a deal valued at about $1.1 billion, including debt, in a bid to cut costs and better compete with rivals.

EarthLink shareholders will receive 0.818 Windstream shares for each share they own.

The deal values EarthLink at about $645.2 million or $5.92 per share, based on Windstream’s Friday closing price, according to Reuters calculations. EarthLink had about $436 million in gross debt as of Sept. 30.

Full Content: Reuters

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