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Momentum Telecom to Acquire Alteva (ALTV) in $28.7M Deal
September 3, 2015 9:08 AM EDTMomentum Telecom, Inc. ("Momentum Telecom") and Alteva, Inc. ("Alteva") (NYSE: ALTV) announced that they have entered into a definitive agreement under which Alteva will be acquired by Momentum Telecom for a total equity purchase price of $28.7 million (the "Merger").
Upon the closing of the Merger, shareholders of Alteva will receive $4.70 per common share, which represents a premium of 31% based on the closing price of Alteva's stock on September 2, 2015 and 38% based on Alteva's 20-day average price.
The combination of Momentum Telecom and Alteva:
Builds on each company's expertise in... More