CenturyTel, Embarq merger approved in five states

By Lisa Kerner

Charlotte, N.C., March 3 - CenturyTel, Inc.'s proposed acquisition of Embarq Corp. received approvals from the Georgia, Mississippi and Nebraska Public Service Commissions and the Minnesota and Ohio Public Utilities Commissions, it was announced on Tuesday.

"The public interest benefits of this transaction are compelling, and we look forward to receiving additional state approvals in the coming weeks," said CenturyTel chairman and chief executive officer Glen F. Post III in a news release.

Shareholders of both companies approved the merger in January.

The Oct. 26 merger agreement gives Embarq shareholders 1.37 CenturyTel shares for each share of Embarq common stock they own. The total value of the transaction is approximately $5.8 billion, according to CenturyTel.

CenturyTel, based in Monroe, La., provides communications, high-speed internet and entertainment services in small to mid-size cities through its broadband and fiber transport networks.

Embarq provides local and long distance voice, data, high-speed internet, satellite video, wireless and other communications-related products and services to consumer and business customers in the United States. The company is located in Overland Park, Kan.

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