[November 12, 2009] D&E Communications acquired by Windstream Tweet Nov 12, 2009 (M2 EQUITYBITES via COMTEX) -- US broadband and telecoms company Windstream Corporation (NYSE:WIN) said on Tuesday that it has completed its acquisition of D&E Communications Inc (NASDAQ:DECC), a competitive local exchange carrier (CLEC) based in Ephrata, Pennsylvania. The transaction was valued at approximately USD333m. Shareholders of D&E Communications received 0.650 Windstream shares and USD5 in cash for each share held. Windstream said that it issued around 9.4m new shares valued at USD95m and paid approximately USD74m in cash as part of the transaction. In addition the company has assumed net debt of around USD164m. D&E Communications generated USD145m of revenue and USD64m of operating income before depreciation and amortisation (OIBDA) in the 12 months ended 30 September 2009. Windstream expects this acquisition to be accretive to free cash flow in the first full year, with annual synergies of approximately USD25m in operating expenses and capital expenditure savings. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]