Consolidated Communications Acquisition of FairPoint Communications

Pierce Atwood represented Consolidated Communications Holdings, Inc. in obtaining approval from the Maine Public Utilities Commission of Consolidated’s acquisition of FairPoint Communications, Inc.  The all-stock transaction was valued at approximately $1.3 billion including debt and based on present equity value. 

The merger positions Consolidated as a leading broadband and business service provider across a 24-state area.  Consolidated has committed to investing approximately $50 million in the Maine network through 2020, with an additional $3 million dedicated to enhancing existing service quality.

Pierce Atwood assisted Consolidated in obtaining support for approval of merger from all interested parties, with the exception of the employee unions, who ultimately did not oppose the settlement.  The settlement was unanimously approved by the Maine Public Utilities Commission and the transaction closed on July 3, 2017.