Consolidated Communications Holdings Inc CNSL announced its plans to acquire SureWest Communications SURW for $23.00 per share, or a total of around $340.9 million, excluding debt.
The offer price represents a 47% premium to SureWest's stock price as of the close on February 3.
SURW shares gained 9.11% to $17.01 in pre-market trading, while CNSL shares gained 0.68% to close at $19.25 on Friday.
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