Arkansas-based Windstream Holdings Inc. has acquired the necessary regulatory approvals to move forward with its merger with Atlanta-based EarthLink Holdings Corp.
The $1.1 billion deal was announced last November. The two companies will meet with stockholders on Feb. 24.
The merger is expected to close during the first quarter or by March 31, 2017.
“The merger transaction creates a stronger, more competitive company with an extensive national fiber footprint to serve customers,” said David Avery, vice president of corporate affairs for Windstream. “The two companies share similar operating philosophies and core values. We look forward to working with the talented EarthLink team to drive value for all of our stakeholders."
Windstream’s board of directors has declared a quarterly dividend of 15 cents per share on the company’s common stock.
The dividend will be distributed in two separate, prorated payments, provided that Windstream’s planned merger with EarthLink closes in the first quarter, according to Windstream.
Windstream employs some 600 people in Monroe County. EarthLink employs some 350 employees locally.
Windstream has not finalized its staffing plans for the combined company, according to officials. The firm is developing a detailed integration plan to help customers through the transition.
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