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Consolidated Communications to buy FairPoint in $1.5 billion deal

ReutersDecember 5, 2016
(Reuters) - Consolidated Communications Holdings Inc said on Monday it would buy broadband service provider FairPoint Communications Inc in an all-stock deal valued at $1.5 billion, including debt.
Consolidated's acquisition of FairPoint marks the fifth such deal in the last two months as growing demand for data and video services drives companies to expand their fiber optic networks in newer regions.
The deal will help Consolidated expand into northern New England, adding about 17,000 fiber route miles in the region.
Shareholders of FairPoint will receive 0.73 shares of Consolidated for each share held.
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