Consolidated Communications reports Q1 EPS (27c) vs. (28c) last year

Reports Q1 revenue $274.7M, two estimates $274.6M…As previously announced on Oct. 16 Consolidated entered into an agreement to be acquired by affiliates of Searchlight Capital Partners and British Columbia Investment Management Corporation in an all-cash transaction with an enterprise value of approximately $3.1 billion, including the assumption of debt. On Jan. 31, 2024, at a special meeting of shareholders, approximately 75% of shares held by disinterested shareholders voted to approve the proposal to adopt the merger agreement and approve the pending transaction. The transaction will result in Consolidated becoming a private company and is expected to close by the first quarter of 2025, subject to customary closing conditions, including receipt of regulatory approvals. The transaction is not subject to a financing condition. Following the closing of the transaction, shares of Consolidated common stock will no longer be traded or listed on any public securities exchange.