D&E Communications, Windstream deal granted final regulatory approval

By Lisa Kerner

Charlotte, N.C., Nov. 6 - The Pennsylvania Public Utility Commission granted its approval - the final regulatory agency approval needed - in the proposed merger of D&E Communications, Inc. and Windstream Corp., it was announced on Friday.

D&E Communications president and chief executive officer James W. Morozzi said in a company news release that he expects the transaction to close by the end of the Nov. 9 week. The company's shareholders approved the merger in September.

In May, Windstream announced it agreed to acquire D&E, an Ephrata, Pa., integrated communications provider, in a cash-and-stock transaction valued at about $330 million, or about $10.88 per share.

As previously reported, D&E shareholders will receive 0.65 of a share of Windstream stock and $5.00 in cash per D&E share under the terms of the companies' definitive merger agreement.

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

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