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Shareholders of FairPoint Communications Inc. (Nasdaq:FRP) and Consolidated Communications Holdings Inc. (NASDAQ: CNSL) approved on Tuesday the merger of the companies in an all-stock transaction valued at approximately $1.5 billion, including debt.
The proposed merger had been unanimously approved by the boards of directors at both companies.
FairPoint, based in Charlotte, N.C., offers phone and internet service in 17 states, including Maine. The company has 2,600 employees nationwide, including 40 in its national headquarters, and owns fiber-based Ethernet network with more than 22,000 route miles of fiber-based network, including approximately 18,000 route miles of fiber in northern New England.
Consolidated Communications, based in Mattoon, Ill., provides business and broadband communications services to carrier, commercial and consumer customers across its 11-state service area that includes the Midwest, Texas, California and Pennsylvania.
Consolidated and FairPoint are in the process of securing the necessary state and federal regulatory approvals to complete the merger and expect the transaction to close by mid-2017.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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