D&E Communications sets Sept. 24 meeting date for Windstream deal vote

By Lisa Kerner

Charlotte, N.C., Aug. 19 - D&E Communications, Inc. will ask its shareholders to approve the company's acquisition by Windstream Corp. at a special meeting of shareholders at 10:30 a.m. ET on Sept. 24.

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

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

Windstream expects to issue approximately 9,551,750 shares of its common stock in connection with the merger, according to a form 424B3 filing with the Securities & Exchange Commission.

As previously reported, the Federal Communications Commission has granted its approval of the proposed merger.

Windstream, a Little Rock, Ark., broadband and entertainment services company, said it anticipates closing the merger in the fourth quarter of 2009.

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