[November 14, 2009] Windstream Finalizes Purchase of D&E Communications Tweet Nov 13, 2009 (Close-Up Media via COMTEX) -- Windstream announced that it has completed its acquisition of D&E Communications, based in Ephrata, Pa., in a transaction valued at approximately $333 million. D&E Communications shareholders received 0.650 shares of Windstream stock and $5 in cash per each D&E share under terms of the agreement. Windstream issued approximately 9.4 million shares of stock valued at $95 million, based on the company's closing stock price on Nov. 9, and paid approximately $74 million in cash as part of the transaction. Windstream also assumed estimated net debt of approximately $164 million. Windstream financed the acquisition with existing cash and current capacity on its revolving credit agreement. Windstream said that it adds highly complementary rural properties in Pennsylvania under the transaction. D&E Communications has approximately 114,000 ILEC access lines and about 46,000 high-speed Internet customers. High-speed Internet service is available to 100 percent of D&E's ILEC lines, nearly half of which can offer speeds up to 10 Mbps. D&E operates as a competitive local exchange carrier (CLEC) in Altoona, Harrisburg, Lancaster, Pottstown, Reading, State College and Williamsport and serves approximately 47,000 lines. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]