Consolidated-Enventis Merger to Close on Oct. 16
The companies’ shareholders just gave the deal their stamp of approval.
**Editor’s Note: Please click here for a recap of the biggest channel-impacting mergers in Q3 2014.**
The Consolidated-Enventis merger is a done deal.
The two hundred-year-old CLECs announced their consolidation at the end of June and said on Wednesday that 98.3 percent of shareholders have put the final stamp of approval on the transaction. The companies had already received federal and state approvals.
The transaction, worth $350 million in stock, and $123 million of debt, is expected to close on Oct. 16. Enventis shareholders will receive a fixed exchange ratio of 0.7402 shares of Consolidated common stock for each share of Enventis common stock they own.
Enventis is the former HickoryTech.
