Consolidated Communications buys Fairpoint in all-stock deal

(Telecompaper) US regional fixed operators Consolidated Communications and FairPoint Communications have agreed a merger in an all-stock deal worth USD 1.5 billion including debt. Conolidated is offering 0.73 of its shares for each FairPoint share, equal to a premium of 17.3 percent to the 30-day average share price. After closing, Consolidated's shareholders will own 71.3 percent of the combined company and FairPoint's shareholders 28.7 percent. The deal expands Consolidated's presence in New E