D&E Communications, Inc. Enters Into Definitive Merger Agreement With Windstream Corporation
D&E Communications, Inc. (NasdaqGS:DECC - News) today announced that it has entered into a definitive merger agreement to be acquired by Windstream Corporation in a transaction valued at approximately $330 million.
Under the terms of the agreement, each share of common stock, par value $0.16 per share, of D&E, issued and outstanding immediately prior to the effective time of the merger, will be converted into and become exchangeable for (i) 0.650 shares of common stock of Windstream and (ii) $5.00 in cash. Based on the closing price of Windstream stock on May 8, 2009 of $9.05, the consideration to be received by D&E shareholders is valued at $10.88 per share.
- Published: 11 May 2009
- Written by Editor