Mergers and Acquistions News
Categories: Telecoms
January 14th 2009, 16:41PM
Centennial Communications shareholders are set to vote on a proposed takeover by AT&T.
The investors will get their say on the potential move at a meeting set for February 24th.
AT&T has tabled a $944 million (£648 million) bid for the company, which equates to $8.50 a share.
When debt is included, the total value of the deal is around $2.8 billion.
If the move gets the go-ahead from shareholders it is expected that the deal will be completed by the end of the second quarter of 2008.
People who held stock in Centennial on January 13th will be able to vote at the meeting and full details of the proposed transaction will be included in a definitive proxy statement which will be sent to investors.
AT&T is based in Dallas, Texas and employs more than 300,000 people across the world. It ranked 29th in the 2008 Global Fortune 500.
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