Windstream makes its fourth acqusition in recent months

25 Nov 2009

Windstream Corp has announced that it will acquire Iowa Telecommunications Services in a deal valued at USD1.1 billion. Windstream, which is making its fourth acquisition in recent months, will give Iowa shareholders USD269 million worth of its shares and USD261 million in cash, as well as taking on USD598 million in debt. The move follows Windstream’s acquisition of D&E Communication this month for USD169 million, in a stock and cash deal. In September this year the company snapped up Lexcom for USD141 million in cash, while in early November it agreed to buy NuVox for USD463 million. ‘Our whole investment thesis was to grow scale in rural America,’ Windstream Chief Executive Jeff Gardner told Dow Jones Newswires. ‘I still think there’s a great deal of consolidation left with smaller players, where the pressure is the most obvious.’

United States, Windstream Communications