Cowen Upgrades Windstream (WIN) to Outperform
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Jefferies Remains Sidelined on EarthLink Holdings (ELNK) Ahead of WIN Merger
November 8, 2016 9:26 AM ESTJefferies maintained a Hold rating on EarthLink Holdings (NASDAQ: ELNK), and cut the price target to $4.90 (from $6.50), ahead of WIN merger. In conjunction with earnings, Earthlink announced a definitive merger agreement to be acquired for $1.1bn by Windstream in an all-stock deal.
Analyst... More
UBS Raises Price Target on Windstream (WIN) to $6.50
November 8, 2016 9:04 AM ESTUBS reiterated a Sell rating on Windstream (NASDAQ: WIN), and raised the price target to $6.50 (from $5.00), ahead of deal with ELNK. UBS estimates new WIN can generate ~$6.2B in revenues and $2.1B in EBITDA in 2017, falling LSD.
Analyst Batya Levi commented, "The agreed ELNK... More
Windstream (WIN), EarthLink (ELNK) Enter $1.1B Merger Agreement
November 7, 2016 7:01 AM ESTWindstream Holdings, Inc. (Nasdaq: WIN) and EarthLink Holdings Corp. (Nasdaq: ELNK) announced that their boards of directors have unanimously approved a definitive merger agreement under which Windstream and EarthLink will merge in an all-stock transaction valued at approximately $1.1 billion, including debt.
Under the terms of the agreement, EarthLink shareholders will receive 0.818 shares of Windstream common stock for each EarthLink share owned. This ratio represents a 13 percent premium to the average exchange ratio of 0.721x over the month ended Nov. 3, 2016, the most recent unaffected trading day. Windstream expects to issue... More
