Utilities M&A » By The Online Investor Staff, updated Sun., Apr. 18, 3:52 AM
Recent mergers and acquisitions in the Utilities M&A category.
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Slide #4. Telephone and Data Systems — BendBroadband
Acquirer:
Telephone and Data Systems (NYSE:TDS)
Acquiree:
BendBroadband
Details:
Telephone and Data Systems, Inc. (NYSE: TDS), parent company to TDS Telecom, today announced an agreement to acquire substantially all of the assets of a group of companies operating as BendBroadband, headquartered in Bend, Oregon, for a purchase price of $261 million. BendBroadband generated annual revenues of $70 million in 2013 and has approximately 280 employees. The transaction is expected to close in the third quarter of 2014 pending regulatory approvals and other conditions.
Telephone and Data Systems provides communications services to customers with wireless connections and wireline and cable connections. Co. conducts its wireless operations through its majority-owned subsidiary, United States Cellular Corporation (UScellular). Co. provides broadband, video and voice services through its wholly-owned subsidiary, TDS Telecommunications LLC (TDS Telecom). Co. has three business segments comprised of: UScellular, which provides wireless telecommunications services to customers; and TDS Telecom's Wireline and Cable, which provides a range of communications services to both residential and commercial customers.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 24th percentile
(ranked lower than approx. 76% of all stocks covered)
Analysts' Target Price: TDS Stock Forecast Based on Zacks ABR data; powered by Xignite |
