Centennial Comm. (CYCL) and AT&T (T) Receive Merger Clearance from the Deptartment of Justice
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AT&T (NYSE: T) and Centennial Communications Corp. (NASDAQ: CYCL) announced today that the Department of Justice has cleared AT&T's proposed acquisition of Centennial.
Under the terms of the merger agreement, Centennial stockholders would receive $8.50 per share in cash. The acquisition was approved by Centennial's stockholders in February 2009 but remains subject to approval by the Federal Communications Commission and to other customary closing conditions. AT&T and Centennial expect that, assuming timely satisfaction or waiver of all remaining closing conditions, the merger will be completed early in the fourth quarter of calendar year 2009.
Under the terms of the merger agreement, Centennial stockholders would receive $8.50 per share in cash. The acquisition was approved by Centennial's stockholders in February 2009 but remains subject to approval by the Federal Communications Commission and to other customary closing conditions. AT&T and Centennial expect that, assuming timely satisfaction or waiver of all remaining closing conditions, the merger will be completed early in the fourth quarter of calendar year 2009.
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