Shareholders Clear Consolidated Buy of FairPoint; Close Expected by Mid-Year
Consolidated's Communications' acquisition of FairPoint Communications was approved overwhelmingly by stockholders of both companies, said a Consolidated release Tuesday. "After closing, Consolidated's shareholders will own approximately 71.3 percent of the pro forma combined company and FairPoint's shareholders will own 28.7…
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percent," the release said. Consolidated noted it had received antitrust clearance and deal financing "at favorable rates." It said the companies are moving to secure federal and state regulatory approvals and expect the deal to close by mid-2017.