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Vermont approves Consolidated buyout of FairPoint; CNSL +2.8%, FRP +3.5%

Published 06/28/2017, 01:14 PM
© Reuters.  Vermont approves Consolidated buyout of FairPoint; CNSL +2.8%, FRP +3.5%
  • Consolidated Communications (CNSL +2.8%) has gotten the OK from Vermont on its $1.5B acquisition of FairPoint (FRP +3.5%).
  • Consolidated says it's going to continue FairPoint's initiative to expand broadband availability across its Northern New England footprint (Vermont, New Hampshire, Maine) and expects to roll out new consumer products, involving home automation, home security and video.
  • With approvals in hand from New Hampshire and Maine, the company expects an OK from Illinois regulators today, after which it will unveil more details of its post-takeover plans.
  • Consolidated got shareholder approval in March, expecting a mid-year close.
  • Now read: Brokers Tag VEON Communication Services As 'Safer' Dividend Top Gain Dog For June


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