CenturyTel completes acquisition of Embarq to form CenturyLink

By Lisa Kerner

Charlotte, N.C., July 1 - CenturyTel, Inc. and Embarq Corp. have combined to form CenturyLink, Inc., it was announced on Wednesday.

Embarq shareholders will receive 1.37 CenturyTel shares for each share of Embarq common stock they own, under the companies' Oct. 26, 2008 merger agreement.

CenturyLink is expected to generate annual full run-rate operating and capital synergies of approximately $400 million by 2011, according to a company news release.

The company's stock trades on the New York Stock Exchange under the symbol "CTL."

While CenturyLink's headquarters location will remain in Monroe, La., it will have regional operating headquarters located in Las Vegas, Wentzville, Mo., Orlando, Fla., Wake Forest, N.C., and La Crosse, Wis., as well as a significant presence in the Overland Park, Kan., area, the former location of Embarq's corporate headquarters, the release said.

CenturyTel 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.

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