FairPoint, Consolidated Shareholders Approve Merger

Mar 28, 2017

PORTLAND, Maine — Consolidated Communications and FairPoint Communications say their shareholders have approved of a proposed merger of the two companies.

Consolidated announced in December it was buying FairPoint for $1.5 billion, assuming its debt and offering dividends to stockholders.

Shareholder voting took place Tuesday at Consolidated in Illinois and FairPoint in North Carolina.

FairPoint is a Charlotte-based telephone and internet provider that serves homes, businesses and public institutions.

The lion’s share of FairPoint’s business is in Maine, New Hampshire and Vermont. It has a fiber-based Ethernet network with about 18,000 routine miles of fiber in northern New England.

Consolidated provides business and broadband communications in 11 states and is based in Mattoon, Illinois.

Public utilities commissions in the northern New England states will hold hearings in April and May on the merger.