Consolidated Communications Holdings has completed pre-close regulatory approval and notification processes in all 17 of FairPoint’s operating states and is on track to complete the Consolidated Communications–FairPoint Communications merger. Illinois, Kansas, Maine, New Hampshire, New York and Vermont recently joined Colorado, Georgia, Ohio, Pennsylvania and Virginia by each granting approval of the pending merger with FairPoint. In addition, all pre-close notification processes have been completed in the six states of Alabama, Florida, Massachusetts, Missouri, Oklahoma and Washington.
“This merger will benefit customers and communities across the combined 24-state service area as we become an even stronger and more competitive company with greater scale, resources and access to an expanded 36,000 fiber-route-mile network,” said Bob Udell, president and chief executive officer of Consolidated Communications. “We are committed to ensuring this merger is seamless for customers and look forward to bringing our expanded product and services portfolio to FairPoint customers in the future.”
“Obtaining approvals in these states is an important step toward completing the merger and indicates regulators understand the benefits of this business combination,” said Michael Shultz, vice president of regulatory and public policy at Consolidated Communications. “We are pleased with the support of all the regulatory bodies.”
“The combined company will be well positioned to expand its broadband reach and service offerings, while maintaining a legacy of local community support and involvement as we work toward our mission of turning technology into solutions, connecting people and enriching how they work and live,” added Udell.
Shareholders of both companies overwhelmingly approved the merger on March 28. Financing for the merger was secured on Dec. 21, 2016 with favorable terms. Hart Scott-Rodino clearance was secured in January and Federal Communications Commission approval was received in May. The Company expects to close on the transaction on July 3.
