Windstream is now finally heading to the checkout counter to finalize the purchase of smaller independent ILEC D&E Communications--one of the three items on its service provider buying spree that also includes Lexcom and its $643 million acquisition of CLEC NuVox.
In the final purchase price, Pennsylvania-based ILEC D&E shareholders got .65 shares of Windstream stock and $5 in cash for each D&E share. To fund the deal, Windstream put forth about 9.4 million shares of stock valued at $95 million according to its closing stock price. Windstream had to shell out $74 million in cash and acquired $164 million in debt. Through the acquisition, Windstream will add an additional 114,000 voice lines and 46,000 broadband customers.
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