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Wildcat Wednesday

Wildcat Wednesday ....

Will Morris ,

Consolidated Communications shareholder Wildcat opposes $3.1 billion take-private deal, ET Telecom

In October, Consolidated Communications agreed to be bought by an investor group comprising Searchlight Capital Partners And British Columbia Investment Management Corp, months after the group had first submitted an offer to buy the company. Reuters reported in July that Wildcat asked Consolidated Communications to reject the offer. ....

United Kingdom , United States , Anirban Sen , Tom Mcconnon , Communications Holdings , Wildcat Capital Management , Consolidated Communications Holdings , Consolidated Communications , Consolidated Communication , Frontier Communication , Frontier Communications , Elecom News , Onsolidated Communications Takeover ,

Consolidated Communications shareholder Wildcat opposes $3.1 billion take-private deal

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. ....

United Kingdom , New York , United States , Anirban Sen , Tom Mcconnon , Communications Holdings , Capital Management , Consolidated Communications Holdings , Consolidated Communications , Consolidated Communication , Frontier Communication , Rashmi Aich , Wildcat Capital Management , Frontier Communications ,