Wildcat Capital Management, which beneficially owns approximately 2.6% of the outstanding shares of Consolidated Communications Holdings, sent a letter to the Special Committee of CNSL‘s Board of Directors regarding its significant concerns with the non-binding takeover offer, dated April 12, 2023, from Searchlight Capital Partners, L.P. and British Columbia Investment Management Corporation. Wildcat is a long-term investor and one of the Company’s largest shareholders. Wildcat supports the company’s current strategic trajectory and firmly believes in CNSL’s value as a standalone public entity. In its letter, Wildcat urged the Special Committee to not pursue an offer that it believes significantly undervalues CNSL’s equity by a factor of 3.5x. Based on analysis detailed in its letter, Wildcat believes that any offer for the company that the Special Committee recommends should be no lower than $14.00 per share.
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