CT Communications shareholders approve merger with Windstream

By Lisa Kerner

Charlotte, N.C., Aug. 23 - Shareholders of CT Communications, Inc. approved the acquisition of the company by Windstream Corp. at a special meeting on Thursday.

The companies' May 29 definitive agreement calls for Windstream to acquire CT Communications for $31.50 per share in cash in a transaction valued at about $585 million, including the assumption of debt.

As previously reported, the Federal Communications Commission has approved the proposed merger, which is expected to close by the end of August.

CT Communications is a Concord, N.C.-based company that provides integrated telecommunications and related services to residential and business customers.

Windstream is a Little Rock, Ark., broadband and entertainment services company.

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