Wildcat Capital Management,
a top shareholder in Consolidated Communications Holdings
, said on Friday it plans to vote against its $3.1
billion takeover by an investor consortium, as it.
Wildcat Capital Management, a top shareholder in Consolidated Communications Holdings, said on Friday it plans to vote against its $3.1 billion takeover by an investor consortium, as it undervalues the broadband services provider. Wildcat, which owns about 3 million shares and is the fifth-largest shareholder in Consolidated Communications, said in a letter to the Mattoon, Illinois-based company's board that it believes a value of at least $4 billion, including debt, would be meritied. "Wildcat continues to believe in the strategic value of the assets assembled by CNSL and the Company's strong potential as a standalone entity, and called for CNSL to terminate the agreement if a higher price cannot be negotiated," Tom McConnon, head of Wildcat's public equities arm, wrote in the letter, a copy of which Reuters has seen.
Alto High School was recently awarded a $5,000 grant for expansion of its digital communications program from Consolidated Communications Connects Educational Grant Program.