Pending M&A Target Centennial (CYCL) Sees Pressure
Centennial Communications (Nasdaq: CYCL), which agreed to be acquired by AT&T (NYSE: T) for $8.50/share in cash, in a deal expected to close in the third quarter, is under pressure today. Shares are down 5.7% to $7.67. This represent a nearly 11% arb spread.
The acquisition remains subject to approval by the Department of Justice and the FCC.
The acquisition remains subject to approval by the Department of Justice and the FCC.
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