D&E Communications, Inc. Announces Approval by the Pennsylvania Public Utility Commission of Its Merger With Windstream Corporat
November 06 2009 - 1:45PM
Marketwired
D&E Communications, Inc. (NASDAQ: DECC) ("D&E") today
announced that the Pennsylvania Public Utility Commission (the
"PUC") approved the merger of Windstream Corporation and D&E.
The decision by the PUC provides the final regulatory agency
approval of the merger agreement.
"With the action taken today by the PUC, I am pleased to report
that we have obtained all of the required approvals to the merger
agreement," said James W. Morozzi, President and Chief Executive
Officer of D&E Communications. "We anticipate closing the
transaction by the end of next week," said Morozzi.
About D&E
D&E is an integrated communications provider offering
high-speed data, Internet access, local and long distance
telephone, data, professional IT services, network monitoring,
security solutions and video services. Based in Lancaster County,
D&E has been serving communities in central Pennsylvania for
more than 100 years. For more information, visit
www.decommunications.com.
About Windstream
Windstream Corporation is an S&P 500 company that provides
digital phone, high-speed Internet and high-definition video and
entertainment services to residential and business customers in 16
states. The company has approximately 3 million access lines and
about $3.2 billion in annual revenues. Windstream is ranked 4th in
the 2009 Business Week 50 ranking of the best performing U.S.
companies. For more information about Windstream, visit
www.windstream.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and beliefs and are
subject to a number of factors and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. The forward-looking statements
contained in this document include statements concerning the
anticipated closing of the merger with Windstream. These statements
are not guarantees of future performance, involve certain risks,
uncertainties and assumptions that are difficult to predict, and
are based upon assumptions as to future events that may not prove
accurate. Therefore, actual outcomes and results may differ
materially from what is expressed herein. For example, if D&E
fails to satisfy the conditions to closing, the transaction may not
be consummated. The following factors, among others, could cause
actual results to differ materially from those described in the
forward-looking statements: risks associated with uncertainty as to
whether the transaction will be completed, costs and potential
litigation associated with the transaction, the failure of either
party to meet the closing conditions set forth in the merger
agreement and the other risk factors discussed from time to time by
the Company in reports filed with the Securities and Exchange
Commission. We urge you to carefully consider the risks which are
described in D&E's Annual Report on Form 10-K for the year
ended December 31, 2008 and in D&E's other SEC filings. D&E
is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements
whether as a result of new information, future events, or
otherwise.
CONTACT: Thomas E. Morell Sr. Vice President, Chief Financial
Officer Secretary and Treasurer (717)738-8315
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