North Pittsburgh Systems sets meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Sept. 28 - North Pittsburgh Systems, Inc. will hold its annual meeting of shareholders on Nov. 13, a company news release stated.

Shareholders of record as of Oct. 8 will be asked to consider and act on the following:

• To consider and vote upon the July 1 agreement and plan of merger with Consolidated Communications Holdings, Inc. and its subsidiary Fort Pitt Acquisition Sub Inc.;

• To elect seven directors; and

• To transact such other business as required.

It was previously reported that North Pittsburgh agreed to be acquired by Consolidated Communications for $25 per share in a taxable cash and stock transaction with a total consideration of $375.1 million.

Under the agreement, North Pittsburgh shareholders would exchange each share they own for either $25 in cash or 1.1061947 shares of Consolidated Communications common stock, subject to proration so that 80% of the North Pittsburgh shares would be exchanged for cash and 20% for stock.

North Pittsburgh is a telecommunications provider based in Gibsonia, Pa. Consolidated Communications is a Mattoon, Ill.-based rural local exchange company.

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