Windstream and EarthLink have struck an agreement to merge in an all-stock transaction that values EarthLink at $1.1 billion including debt. EarthLink shareholders will receive 0.818 Windstream shares per share, a 13% premium. With Windstream issuing stock valued at $673 million, EarthLink shareholders will take a 49% stake in the merged business.
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Principal Analyst, Telecommunications, IHS Markit
Seth Wallis-Jones, a principal research analyst at IHS Markit, covers operator strategies for the Service Providers & Platforms team